In a significant move aimed at advancing renewable energy deployment in the Democratic Republic of Congo (DRC), Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has partnered with SkyPower Global to enter a Joint Development Agreement for the first phase of Contact online >>
In a significant move aimed at advancing renewable energy deployment in the Democratic Republic of Congo (DRC), Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has partnered with SkyPower Global to enter a Joint Development Agreement for the first phase of SkyPower''s Green Giant project in the DRC. This initial phase, comprising 200MW, marks a crucial step towards realizing the landmark 1,000MW Solar Power Purchase Agreement (PPA) signed between SkyPower and the DRC''s state-owned utility, Société Nationale d''Electricité (SNEL).
The collaboration between AFC and SkyPower combines the former’s proven track record in successfully de-risking and financing well-structured infrastructure projects across Africa with the latter’s extensive global experience in developing large-scale solar projects. This partnership underscores both organizations’ commitment to the United Nations Sustainable Development Goals, particularly emphasizing the pivotal role of partnerships in accelerating renewable energy adoption and combating climate change, especially in the aftermath of COP28.
The DRC Green Giant project, initiated with the signing of the initial PPA with SNEL, signifies a historic commitment from the DRC government to bolster electrification rates through renewable energy partnerships. President Félix Tshisekedi’s strategic vision aims to significantly enhance the nation’s clean energy output, projecting a substantial boost to the DRC’s GDP and the creation of around 30,000 job years.
The Joint Development Agreement is poised to expedite the construction of the first 200MW phase of the project, with all requisite approvals secured and land allocation completed. This ensures a swift transition to the development stage, with construction slated to commence by 2025. The agreement serves as a testament to the collaborative efforts between SkyPower, AFC, and the DRC, signaling sustainable economic development and a cleaner, more resilient future for the region, while also providing a model for future joint initiatives.
Amadou Wadda, Senior Director of Project Development and Technical Solutions at Africa Finance Corporation (AFC), expressed the alignment of the partnership with AFC’s mission to advance energy access on the continent through renewable energy. Kerry Adler, President & Chief Executive Officer of SkyPower, highlighted AFC’s leadership role in fast-tracking essential energy projects and its commitment to leveraging solar energy for economic development, job creation, and climate change mitigation.
In conclusion, the partnership between AFC and SkyPower underscores a collective effort toward realizing ambitious goals set by forward-looking countries like the DRC, aiming for a brighter and more sustainable future. This agreement emphasizes AFC’s pivotal role in promoting renewable energy solutions and the unwavering commitment of both organizations to a greener, more resilient world.
Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, and SkyPower Global have entered a Joint Development Agreement to propel renewable energy deployment in the Democratic Republic of Congo (DRC). This agreement marks a significant step in advancing the Green Giant project''s first phase, a pivotal component of SkyPower''s 1,000MW Solar Power Purchase Agreement (PPA) with the DRC''s state-owned utility, Société Nationale d''Electricité (SNEL).
The partnership between AFC and SkyPower aims to leverage SkyPower''s extensive global experience in large-scale solar projects and AFC''s proven track record in de-risking and funding well-structured power and infrastructure projects across Africa. Aligned with the United Nations Sustainable Development Goals, particularly in the wake of COP28, this collaboration underscores the critical role of partnerships in accelerating renewable energy adoption and combating climate change.
The DRC Green Giant project, initiated through the historic PPA signing with SNEL, signifies the government''s commitment to enhancing electrification rates through renewable energy partnerships. President Félix Tshisekedi''s strategic vision aims to significantly boost clean energy output, stimulating the DRC''s GDP by an estimated US$2.3 billion and creating approximately 30,000 job years.
The Joint Development Agreement is poised to expedite the construction of the project''s first 200MW phase, with all necessary approvals secured and land allocation completed. Construction is set to commence by 2025, showcasing the collaborative efforts between SkyPower, AFC, and the DRC government in driving sustainable economic development and fostering a cleaner, more resilient future for the region.
Amadou Wadda, Senior Director of Project Development and Technical Solutions at AFC, emphasized the alignment of the partnership with AFC''s mission to advance energy access through renewable energy solutions in Africa. Kerry Adler, President & Chief Executive Officer of SkyPower, highlighted AFC''s leadership role in fast-tracking essential energy projects and its commitment to promoting renewable energy solutions for a greener world.
This partnership signifies a concerted effort towards realizing ambitious renewable energy goals and ensuring a brighter, more sustainable future for the Democratic Republic of Congo and beyond.
The Democratic Republic of Congo (DRC) is one of the poorest and most conflict-ridden countries in the world. Despite its vast natural resources, including the world''s largest hydropower potential, it suffers from chronic electricity shortages that hamper its social and economic development. According to the World Bank, only 19% of the population had access to electricity in 2019, and the average per capita consumption was 105 kWh, compared to the global average of 3,153 kWh.
But a new project aims to change that by harnessing the power of the sun. The UAE-based company SkyPower Global has bagged a contract from the Africa Finance Corporation (AFC) to install a 200-megawatt clean energy plant in DR Congo. Spanned over four phases, the first phase of the DRC Green Giant project will cost $200 million (Dh734 million) and create 6,000 job years, Kerry Adler, president and CEO of SkyPower, told Khaleej Times in an interview.
He said this 200MW Phase 1 is a crucial step in realizing the 1,000MW Solar Power Purchase Agreement (PPA) signed with the Congo''s state-owned utility, Société Nationale d''Electricité (SNEL). The project is expected to be fully operational in 18-24 months, Adler said, adding that the project will have a direct and indirect impact of $700 million to the African country''s GDP.
DR Congo president Félix Tshisekedi aims for a significant boost to the country''s clean energy output, contributing to a projected $2.3 billion stimulus to the African nation''s GDP and the creation of approximately 30,000 job years. "Partnering with SkyPower, an institution known for their decades of global expertise in large-scale solar projects, is well aligned with our mission to advance energy access on the continent through renewable energy,” said Amadou Wadda, senior director of project development and technical solutions at AFC.
“Through this collaboration, we aim to contribute significantly to rapid industrialization, local job creation, sustainable economic growth, and a pragmatic transition to net zero in DRC and Africa as a whole," he said. Kerry Adler noted that the agreement underlines AFC''s pivotal contribution to promoting renewable energy solutions in the African continent.
The DRC Green Giant project is part of a larger trend of increasing investments in solar energy in Africa, where the electricity demand is expected to grow by 6% annually until 2040, according to the International Energy Agency (IEA). Several countries, such as Morocco, Egypt, Kenya, and South Africa, have launched ambitious solar projects to meet their energy needs and reduce their carbon footprint.
The IEA estimates that solar photovoltaic (PV) capacity in Africa could reach 320 gigawatts (GW) by 2030, up from 5 GW in 2019, making it the fastest-growing renewable energy source on the continent. Solar energy also offers a cost-effective and reliable alternative to fossil fuels and diesel generators, which are often used to power off-grid communities and businesses.
SkyPower Global, which has a portfolio of over 25 GW of solar projects worldwide, said it is committed to supporting the African continent''s transition to clean energy and achieving the UN Sustainable Development Goals. The company also plans to launch several corporate social responsibility initiatives in DR Congo, such as providing free solar-powered mobile charging stations, LED lights, and bicycles to rural communities.
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