PPA signed for 1 GW Solar project in the Democratic Republic of Congo
SkyPower together with the Société Nationale d’Electricité (SNEL), the national energy of The Democratic Republic of the Congo announced the signing of a landmark power purchase agreement (PPA) for a 1000 MW Green Giant solar power project in the Democratic Republic of Congo. Under the PPA DRC’s state-owned utility, SNEL will be the main power Off-taker of the energy generated by the solar project.
SkyPower Global has also entered into a Joint Development Agreement with Africa Finance Corporation (AFC) for the first phase of the Green Giant solar power project. The 200 MW first phase is expected to cost US$200 million, create 6,000 job years, and add US$700 million to the DRC’s GDP.
Construction work is expected to commence next year once all the necessary approvals have been secured and land allocation completed.
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The International Finance Corporation (IFC) has signed a US$80 million financing package to bolster the Facility for Energy Inclusion (FEI), a pan-African fund dedicated to advancing small-scale decentralized renewable energy (DRE) projects.
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AfDB approves loan for Rwanda’s first regional hydropower public-private partnership project
The African Development Bank Group has recently announced a US$24 million loan to support Rwanda’s contribution to the development of the 147 MW Multinational Ruzizi III Hydropower Project.
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December 28, 2015
AfDB approves regional hydropower PPP in Burundi, DRC, Rwanda
The African Development Bank Group has approved US$138 million of loans and grants toward the Ruzizi III Hydropower Plant. Read more
