Bunia, Goma and Kindu solar hybrid mini-grid projects

active

This project involves the design, build and operate of three solar hybrid mini-grid projects in Bunia, Goma and Kindu, the capital cities of Ituri, North Kivu and Maniema provinces, Democratic Republic of the Congo. The planned generated capacity of the three hybrid mini-grid solar plants are Bunia 8MW, Goma 5MW, Kindu 2MW, a total of 15MW. The sponsor for this initiative is the Congo Energy Solutions Limited, also known as "CESL" and "Nuru". Each of the three plants has solar photovoltaic panels, battery energy storage systems and diesel generators. This project will benefit more than 28 thousand households and businesses in the provinces. The total project cost is $50m, of which $5m will be provided from IFC's own account and $5m from Finland - IFC Blended Finance for Climate Program in the form of equity in CESL. EDFI ElectriFI also close $40m in Series B funding for the remainder of the project's cost. MIGA also issued a guarantee totaling $50.3 million that covers Expropriation, Transfer Restriction and Inconvertibility and War and Civil Disturbance for a period of up to 15 years. The financial close date is June 30th, 2023. https://disclosures.ifc.org/project-detail/SII/45543/nuru-drc https://disclosures.ifc.org/project-detail/ESRS/45543/nuru-drc https://www.electrifi.eu/news/nuru-an-edfi-electrifi-investee-closes-over-40m-of-equity-to-drive-metrogrid-scaling-in-the-democratic-republic-of-the-congo/