The development, with a total cost of €70.5m, will be constructed in Burkina Faso.

"Once operational the new solar plant will significantly increase power generation in Burkina Faso, reduce dependence on energy imports from Ivory Coast and Ghana and help prevent power cuts," said EIB.

Alongside the EIB, financing will also be provided by the French Development Agency and European Union (EU),  with more than a hundred jobs created during construction of the solar plant, it said. 

"The