January 26, 2024
The Africa Finance Corporation (AFC) has partnered Canadian business SkyPower to create the 1 GW Green Giant solar project in the Democratic Republic of Congo (DRC). Both parties have agreed to a Joint Development Agreement (JDA) for the project’s first phase.
The 200 MW Phase 1 is a significant step towards completing the 1 GW solar Power Purchase Agreement (PPA) negotiated by SkyPower and the DRC’s state-owned utility, Société Nasionale d’Electricité (SNEL). Construction is expected to start in 2025.
The solar project was initially announced in 2020, along with the signing of the PPA with the Congolese state utility but no concrete announcements have been made since then. The new partnership with AFC intends to kick start the development process.
The Democratic Republic of the Congo has set a goal of increasing renewable energy generating capacity in order to boost electrification rates while also addressing climate issues. Furthermore, the country’s renewable energy development is predicted to boost GDP growth by $2.3 billion and create nearly 30,000 jobs annually.
Source: Energy Ghana