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- DR Congo looks for partners to fund its energy goals
DR Congo looks for partners to fund its energy goals
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 | Moyi Power, a consortium led by Gridworks, has begun the financing process for the $340m solar metrogrid project in DR Congo. It aims to raise debt and grants. The African Development Bank has been appointed as the lead arranger for debt financing and concessional funds. Once the project is completed, it will power a million people. |
The financing process is expected to take at least 12-15 months. Construction will take 18 months and will provide power under a 20-year concession.
Approximately 80% of the $160 million first-phase financing has been identified, with Moyi Power now seeking the remaining debt and viability gap funding. This is to guarantee its commercial viability and ensure it attracts private sector finance.
Our take: DR Congo's energy challenges present an opportunity for investors, but its political risk profile makes lending expensive… Read more (2 min)
 | The government of Ivory Coast has approved a 50 MW solar project to be developed as a public-private partnership. It is expected to cost $60 million and will be built by Katiola Solar Power, a subsidiary of Swiss energy provider JC Mont-Fort. The government is targeting to double its share of electricity generation from renewables to reach 45% by 2030. |
West African nations that are part of select countries in the World Bank's Mission 300 are leading the region's renewable electrification efforts. Over the past couple of weeks, Chad, Liberia, Nigeria, and now Ivory Coast have announced or made progress on renewable projects.
Ivory Coast is rolling out multiple renewable projects. It recently operationalised the 112 MW Gribo-Popoli hydroelectric dam. Other projects in the pipeline include the 52.4 MW Ferke Solar Plant and the 50 MW Bondoukou solar projects.
Our take: Private sector agility is unlocking West Africa’s solar potential… Read more (2 min)
 | About seven in every 10 people in Kenya have access to safe drinking water. In rural areas, this figure drops to just half the population. Solar power is solving this problem, mostly in rural areas where there is no access to the grid. This week, Renewables Rising interviewed two hydrogeologists to shed light on solar market trends in both rural and urban areas. |
Mr. Dan Kiso holds a Master's in Hydrogeology from the Technical University of Darmstadt, Germany. He has over seven years of experience in the water sector. Currently, he is the Managing Director at GroundWatch Global Ltd.
Mr. Brian Kemboi works as the Lead Consultant at Biotech Solutions Ltd. He has specialised in groundwater, solarisation, and geotechnical investigation, primarily focusing on solar and borehole matters.
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Wale Aboyade PhD, Fellow of the Energy Institute, says, “#Mission300 is one of Africa’s most ambitious electrification efforts — but we risk falling short if we focus solely on technical capacity (as vital as that is).