Ivanhoe Mines Expands Renewable Power in DRC
Insights: The solar and battery storage installation will be one of Africa''s commercial and industrial renewable energy plants. By diversifying its energy sources,
Solar power could change energy consumption in Congo. - The Loudima family in Congo have long been without electricity but they have found an environmental solution: solar power. In the remote districts of Pointe Noire, the Congolese start-up Hélios Électricité has installed a solar power plant.
The public version of the resulting report of the effort is available here. The Democratic Republic of Congo's national electric-ity access rate is estimated at 19%. Less than 1% of the rural population and 41% of the urban population has energy access. Of the country's 10 million house-holds, only 1.6 million have have access to electricity.
Building on these initial successes, the company has developed a pipeline of mini-grid projects in Eastern DRC. Proparco plans to co-invest with IFC in this opportunity, and has jointly led the ESG and Governance action plans, bringing much-needed risk capital to the round to fully finance the series B projects.
DRC has benefited from several grant-making and concessional financing schemes that have helped to unlock private capital for the off-grid solar sector. In 2021, the Swedish investment platform (Trine) en-tered a partnership with Altech, a leading company in the distribution sustainable energy products and ser-vices18.
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