As stated on the project disclosure page, on November 9, 2023, the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, issued a guarantee totaling US$32.9 million to CES AC1 Limited of Mauritius, a subsidiary of Congo Energy Solutions Limited (CESL), for its equity investment into Nuru SASU, a DRC-based company in charge of the construction, operation, maintenance, expansion, and modernization of multiple solar-hybrid metro-grid sites in the Democratic Republic of Congo (DRC), an IDA and FCS country. The MIGA guarantee covers Expropriation, Transfer Restriction and Inconvertibility and War and Civil Disturbance for a period of up to 15 years.
CESL's investments consists of (i) the refinancing of a 1.3 megawatt (MW) existing metro-grid in Goma in North Kivu province (Goma 1); (ii) the development and construction of additional 3.7MW-capacity solar-hybrid metro-grid in Goma in North Kivu province (Goma 2), (iii) the development and construction of a 2 MW solar-hybrid metro-grid in Kindu in Maniema province (Kindu); (iv) the development and construction of a 6 MW solar-hybrid metro-grid in Bunia in Ituri province (Bunia), all in the Democratic Republic of Congo.
With an electrification rate of 19%, DRC has the second highest number of people without access to electricity globally. CESL plans to expand its operations across DRC to provide energy to up to 5 million people by 2025.
The Project will contribute to increased access to electricity in fragile parts of DRC, primarily by improving electricity access for Commercial & Industrial, small and medium-sized enterprises (SME) and residential customers, who currently have no or unreliable access to electricity. The Project is expected to have positive environmental effects from displacing diesel gensets with a greener source of energy, thereby reducing greenhouse gas (GHG) emissions by an estimated 9,458 tons of carbon dioxide equivalent (tCO2eq) emissions per year. The Project will demonstrate the commercial viability of solar hybrid mini-grids in DRC as a green and reliable source of electricity in areas that are not served or underserved by the national utility, and demonstrate the effectiveness of the associated regulatory framework, thus increasing private participation in this sector.
As stated on the company's website, Nuru (Swahili for “light”) is a company dedicated to enhancing connectivity in the Democratic Republic of Congo. Nuru deployed Congo’s first solar-based mini-grid in 2017 and has a 1.3MW solar hybrid site in Goma, the largest off-grid mini-grid in sub-Saharan Africa. Another solar hybrid site in Beni and two in the oriental province (Tadu & Faradje).
Nuru was first established under the name Kivu Green Energy in August 2015. We changed our name in September 2019 to reflect our expansion beyond the Kivu regions into other parts of DRC.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
|Private Actor 2 Sector
|Congo Energy Solutions Limited
No project contacts provided at the time of disclosure.
Client - Nuru SASU:
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