Proparco, a subsidiary of Agence Française de Développement (AFD) that is focused on private sector development has granted Nuru, a company dedicated to enhancing connectivity in the Democratic Republic of Congo (DRC) close to US$ 1.2n for the implementation of hybrid solar off-grid projects in the Central African country.
The Goma-based company aims to electrify 5 million people by 2024 in the DR Congolese provinces of North Kivu, Maniema, Ituri, Haute Uélé, and Kasaï. It has already commissioned a 1.33 MW hybrid solar power plant, one of the largest off-grid power generation facilities on the African continent.
The solar power plant, which feeds into the grid in the city of Goma located in North Kivu province, is equipped with a battery storage system and back-up generators that supply electricity continuously after sunset.
Supporting not only Nuru but also DRC’s energy transition
According to the AFDs subsidiary, its investment will not only support Nuru but also the DRC’s energy transition and in particular the United Nation’s Sustainable Energy for All (SE4ALL) initiative, which aims to ensure universal access to modern energy services and to double the share of renewable energies in the energy mix by 2030.
Proparco estimates that the funds will help provide access to electricity for approximately 330 000 people while preventing the emission of 500 000 tons of carbon dioxide over the next 2 decades.
By investing in Nuru, Proparco joins a list of other technical and financial partners of the Congolese company that was launched in 2015. These partners include Energy Peace Partners, Solarcentury, PowerGen Renewable Energy, Energy Access Ventures (EAV), the European Union’s Electrification Financing Initiative (ElectriFI), and Gaia Impact Fund, a French impact investment fund specialized in renewable energy investments with a high focus on start-ups, SMEs, and infrastructure projects that have a strong social and environmental focal point.