Nuru DRC (IFC-45543)

  • Congo, Democratic Republic of
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kasongo, Goma, Kindu
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 28, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 21, 2023

Disclosed by Bank Mar 16, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, the proposed investment is up to US$5 million redeemable preferred equity investment in Congo Energy Solutions Limited (Nuru), a Mauritius holding company, to finance the development and construction of up to 15 MW of solar-hybrid mini-grid projects in Democratic Republic of Congo.
Nuru’s near-term pipeline of mini-grid projects includes: 
(a) 3.7 MW solar project in Goma (referred to as “Goma-II”): The project is being developed on a land plot of 4.5 hectares, which was owned by private individuals. The expected start dates of construction and operation are June 2023 and December 2023, respectively. 
(b) 2 MW solar project in Kindu (referred to as “Kindu”): the project is being developed on a land plot of 7.0 hectares, which was owned by a non-governmental organization and a private individual. The expected start dates of construction and operation are June 2023 and June 2024, respectively. 
(c) 8 MW solar project in Bunia (referred to as “Bunia”): the project is being developed on a land plot of 25 hectares, which was owned by a private company. The expected start dates of construction and operation are June 2023 and June 2024, respectively. 
The mini-grids are disconnected from any public grid and will operate on an independent basis. These projects are expected to provide relatively more affordable and reliable electricity to 28,000 households and businesses in DRC that currently have expensive, unreliable or no access to electricity. Nuru is at different stages of discussions with three main classes of off-takers: (i) Telecom, (ii) water pumping stations and substations; and (iii) agri-processing and milling companies. Nuru is also in talks with smaller off takers – national banks, construction materials industries and water bottling factories.
The projects will be 100% owned by Nuru. Nuru will construct and operate the Project through Nuru SARL, its wholly-owned DRC-domiciled and focused subsidiary that currently owns and operates the 1.3 MW Goma mini-grid project mentioned above. The company is still in the process of appointing the engineering procurement and construction (EPC) contractor. The operation and maintenance for these projects will be managed by Nuru. The distribution network will be medium voltage - 11 kV line for Goma and 33 kV lines for Kindu and Bunia.                                                   

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

According to the IFC, the project is expected to have limited environmental and social impacts which are expected to be site-specific and can be avoided or mitigated by adhering to recognized performance standards, procedures, guidelines and design.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The IFC is considering an investment of US$5 million from its own account and US$5 million from Finland-IFC Blended Finance for Climate Program.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

From the IFC's website:

CESL, a Mauritius holding company, was founded in August 2015 as Kivu Green Energy SARL and is headquartered in Goma. It is majority owned by three shareholders – its founder Jonathan Shaw, Energy Access Ventures, a Sub-Saharan Africa-focused early stage investment fund, and ElectriFi, an impact investment facility funded by the European Union. CESL is expected to have other new minority investors by the time of IFC’s investment.

Nuru SARL is CESL's subsidiary in the DRC.
Nuru was founded in August 2015 as Kivu Green Energy SARL. Nuru has its headquarters in Goma and an office in Beni, DRC, Nuru has developed, built, and commissioned three projects to date: 
> 35 kW non-commercial solar hybrid pilot: Operational since November 2016, this is a solar photo-voltaic (PV)/lead-acid storage system that provides 24/7 electricity to the campus of non-profit Christian Bilingual University of Congo.
> 55kW commercial pilot solar hybrid: Operational since July 2017, this is the first commercial solar mini-grid project in DRC and provides power to Beni. The plant combines a 55kWp PV plant, 26kW/120kWh of storage capacity (with lead-acid battery) and 60kW of diesel genset. The system offers 10 hours of service while a diesel backup generator provides 4 hours of service.  
> 1.3 MW Goma 1 solar mini-grid project: Operational since 2020, The project is the largest solar mini-grid in DRC and one of the largest in Africa. It is located south-west of Goma, DRC. Clients of this project include water pumping stations, telecom towers, gas stations and clustered milling stations. Nuru expects other small and medium enterprise (SME) and household clients.
Nuru also owns and operates its transmission network (from each plant) and its distribution network to customers. This typically includes 11 kV and 33 kV overhead lines.  

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - E3 Capital Parent Company Finance
- - - - ElectriFi Investor Energy
- - - - Energy Access Ventures Investor Energy
- - - - Nuru SARL Subsidiary Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Client - Congo Energy Solutions Limited:

Jonathan Shaw - Chief Executive Officer
Phone: +254 799 873036
Address: 25 Avenue du Lac, Kyeshero, Goma, Nord Kivu, RDC

Addresses of each of the 3 sites:

  • Goma 2 – Bulengo, Q / lac Vert, Cellule de Bulengo, Avenue de l’éruption, Commune de Goma, Ville Goma, Nord-Kivu, R.D. Congo;
  • Kindu – Avenue Kaskito, Bloc Lwama, Quartier Lwama, Commune Kasuku, ville de Kindu, Province de Maniema, R.D. Congo;
  • Bunia – Mont Bedu, village Kasongo, Groupement Bedo Ezekere, territoire de Djugu, province de l’Ituri, R.D Congo.

Address of the corporate office: 2nd Floor, The Axis, 26 Cybercity, 72201, Ebène, Mauritius


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