Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, and SkyPower Global have entered a Joint Development Agreement to propel renewable energy deployment in the Democratic Republic of Congo (DRC). This agreement marks a significant step in advancing the Green Giant project’s first phase, a pivotal component of SkyPower’s 1,000MW Solar Power Purchase Agreement (PPA) with the DRC’s state-owned utility, Société Nationale d’Electricité (SNEL).

The partnership between AFC and SkyPower aims to leverage SkyPower’s extensive global experience in large-scale solar projects and AFC’s proven track record in de-risking and funding well-structured power and infrastructure projects across Africa. Aligned with the United Nations Sustainable Development Goals, particularly in the wake of COP28, this collaboration underscores the critical role of partnerships in accelerating renewable energy adoption and combating climate change.

The DRC Green Giant project, initiated through the historic PPA signing with SNEL, signifies the government’s commitment to enhancing electrification rates through renewable energy partnerships. President Félix Tshisekedi’s strategic vision aims to significantly boost clean energy output, stimulating the DRC’s GDP by an estimated US$2.3 billion and creating approximately 30,000 job years.

The Joint Development Agreement is poised to expedite the construction of the project’s first 200MW phase, with all necessary approvals secured and land allocation completed. Construction is set to commence by 2025, showcasing the collaborative efforts between SkyPower, AFC, and the DRC government in driving sustainable economic development and fostering a cleaner, more resilient future for the region.

Amadou Wadda, Senior Director of Project Development and Technical Solutions at AFC, emphasized the alignment of the partnership with AFC’s mission to advance energy access through renewable energy solutions in Africa. Kerry Adler, President & Chief Executive Officer of SkyPower, highlighted AFC’s leadership role in fast-tracking essential energy projects and its commitment to promoting renewable energy solutions for a greener world.

This partnership signifies a concerted effort towards realizing ambitious renewable energy goals and ensuring a brighter, more sustainable future for the Democratic Republic of Congo and beyond.