DRC – Nuru, a developer of hybrid solar off-grids, has just obtained €1 million (US$1.2m) from Proparco, the subsidiary of the French Development Agency (AFD) group responsible for financing the private sector, to deploy its off-grid solutions in several provinces of the Democratic Republic of Congo (DRC).
The company aims to electrify 5 million people by 2024 in the DR Congolese provinces of North Kivu, Maniema, Ituri, Haute Uélé and Kasaï. Nuru has already commissioned a 1.33 MW hybrid solar power plant, one of the largest off-grid power generation facilities on the African continent.
According to Proparco, its investment will accompany not only the development of Nuru, but also the DRC’s energy transition and in particular the UN’s SE4ALL (Sustainable Energy for All) initiative, which aims to ensure universal access to modern energy services and to double the share of renewable energies in the energy mix by 2030.
“We are proud to support the growth of the company as part of the Digital Africa initiative that we are rolling out for African start-ups and we look forward to seeing how Nuru’s mini-grids can improve the lives of populations of the Democratic Republic of the Congo.”
Johann Choux – Head of Investments , Proparco
“This operation also demonstrates the priority given by Proparco to supporting the private sector in fragile countries, thanks in particular to the support of the French government. The development of mini-grids is a very important issue for international donors and is therefore one of the areas in which they are working together more closely in fragile countries,” adds Proparco.
The solar power plant, which feeds into the grid in the city of Goma (North Kivu), is equipped with a battery storage system and back-up generators that supply electricity continuously after sunset.
“Proparco is committed to supporting innovative private actors committed to the fight against climate change who work in difficult environments. Nuru is one of these new teams of entrepreneurs whose talent and vision have a significant impact on sustainable development,” said Johann Choux, Head of Investments — Financial Institutions and Venture Capital at Proparco.
“We are proud to support the growth of the company as part of the Digital Africa initiative that we are rolling out for African start-ups and we look forward to seeing how Nuru’s mini-grids can improve the lives of populations of the Democratic Republic of the Congo.”
AFD Group’s subsidiary estimates that the funds injected (1 million euros) into Nuru will provide access to electricity for 330,000 people while preventing the emission of 500 000 tons of CO2 over the next 20 years.
By investing in Nuru, Proparco joins other technical and financial partners of the company launched in 2015 including off-grid Energy Peace Partners, Solarcentury, PowerGen Renewable Energy, Energy Access Ventures (EAV), the European Union’s Electrification Financing Initiative (ElectriFI) and Gaia Impact Fund, a French investment fund dedicated to entrepreneurs in the renewable energy sector.
Founded in 2015, Nuru (formerly Kivu Green Energy) develops and operates urban hybrid solar mini grids in the province of North Kivu in the east of the Democratic Republic of Congo.
A 1.35MW mini-grid deployed by Nuru in Goma is one of the main mini-networks in sub-Saharan Africa. Nuru specializes in commercial, industrial and household customers, providing reliable, clean and comparatively more affordable energy than existing private solutions based on diesel generators.
Nuru’s hybrid mini grids provide 84% renewable electricity (solar photovoltaic) at rates per kWh between 30 and 50% cheaper than the average cost of diesel generators in the region.
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