In the Democratic Republic of Congo (DRC), Canadian energy company East African Power (EAP) has announced the acquisition of a project to build two solar photovoltaic power stations in the provinces of Katanga and Lualaba. EAP is supported by the Trade and Development Bank (TDB) and the United States Agency for International Development (USAID).
The installed electrical capacity of the Democratic Republic of Congo (DRC) is set to increase by 266 MW over the coming months. This is one of the objectives of East African Power (EAP), which has announced the acquisition of a solar project in the east of the DRC. The project involves the construction of two power stations, each with a capacity of 133 MW. The facilities will be located in Kolwezi in the province of Lualaba and in Likasi in the province of Haut-Katanga. EAP will hold an 85% stake.
A 20-year power purchase agreement (PPA) has already been signed with the National Electricity Company (SNEL) for the two solar power plants. According to EAP, the Kolwezi and Likasi solar power plants are expected to inject 494 GWh of clean electricity a year into the DRC’s national grid, while offsetting 5,400 tonnes of CO2 emissions. The project is expected to create more than 800 full-time and temporary jobs, according to the Canadian company.
Financial close in 2024
The project to build the two solar power plants is supported by the Trade and Development Bank (TDB), which is assisting EAP in the project preparation process with the aim of reaching financial close in 2024. “To this end, TDB has provided EAP with a technical assistance facility to review and update key studies and other project documents in line with World Bank performance standards. TDB will also act as exclusive lead arranger for the debt financing of the projects”, says the company headed by Dan Klinck.
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In addition to TDB, EAP has also received support from the United States Agency for International Development (USAID) under the East Africa Power Program and the Sustainable Capital Africa Facility. The two solar power plants should help to diversify the DRC’s electricity mix. The Central African country currently has an installed capacity of 2,844 MW, of which 2,792 MW is generated by hydroelectric power stations, according to Power Africa.
Jean Marie Takouleu
