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East African Power says it will build two 133 MW solar projects. The installations have 20-year power purchase agreements (PPAs) with the national utility, Société Nationale de l’Electricité (SNEL).
Canadian renewables company East African Power (EAP) has acquired an 85% stake in two solar projects in the Democratic Republic of the Congo. The two solar projects, with an installed capacity of 133 MW each, are located in Katanga and Lualaba provinces.
The Trade and Development Bank (TDB) supports East African Power in the project preparation process to achieve financial close in 2024. The United States Agency for International Development (USAID) supports East African Power under the East Africa Power Program and the Sustainable Capital Africa Facility.
“USAID’s support has been in the form of legal technical assistance,” an East African Power spokesperson told pv magazine. “Through the program, we accessed legal services from a leading international legal firm, Norton Rose Fulbright, to review the bankability of the projects’ Concession Agreement and Power Purchase Agreement. SCAF has provided a repayable grant to co-finance pre–Financial Close development costs.”
The projects have secured 20-year PPAs with the national utility, Société Nationale de l’Electricité (SNEL).
“With the support of esteemed organizations like TDB, we are excited to support the growth of the IPP market in the DRC, providing clean, reliable, and sustainable power to drive economic growth and enhance the quality of life for the people of DRC,” said said East African Power CEO Dan Klinck.
An East African Power spokesperson said that the company is the lead developer and sponsor of the projects. Its focus is to complete the pre-development activities of the project, close the financing, and complete the construction of the plants.
According to Power Africa, the two solar power plants should help to diversify Congos electricity mix. It currently has an installed capacity of 2,844 MW, of which hydroelectric power stations generate 2,792 MW. According to the International Renewable Energy Agency (IRENA), Congo had just 20 MW of installed PV capacity at the end of 2022. |
