SkyPower Global has teamed up with Africa Finance Corporation (AFC) to build the first phase of a 1,000-megawatt solar power plant in the Democratic Republic of Congo.

SkyPower Global, a Canadian firm that specialises in large-scale solar projects, has teamed up with Africa Finance Corporation (AFC), a pan African development bank, to build the first phase of a 1,000-megawatt solar power plant in the Democratic Republic of Congo.

The 200-megawatt phase one, which is expected to start construction by 2025, follows a landmark agreement signed in 2023 between SkyPower and SNEL, the state-owned utility to buy the electricity generated by the project. The project will help boost the country’s electrification rate, which is among the lowest in the world, and support its transition to clean energy.

The partnership between SkyPower and AFC leverages their respective strengths and expertise. SkyPower has a track record of developing solar projects in emerging markets, while AFC has experience in financing and de-risking infrastructure projects across Africa. The deal also aligns with both organizations’commitment to the United Nations Sustainable Development Goals and the fight against climate change.

The Green Giant project is part of President Felix Tshisekedi’s strategic vision to increase the nation’s renewable energy capacity and stimulate economic growth. The project is expected to add $2.3 billion to the country ‘s gross domestic product and create about 30,000 jobs, according to a joint statement.

“Through this collaboration, we aim to contribute significantly to rapid industrialisation, local job creation, sustainable economic growth and a pragmatic transition to net zero in DRC and Africa as a whole, senior director of project development and technical solutions at AFC, Amadou Wadda said in the statement.

Kerry Adler, president and chief executive officer of SkyPower, said the partnership with AFC was a “concerted effort to realize the ambitious goals set by the DRC government.”

“This agreement underlines AFC’s pivotal contribution to promoting renewable energy solutions and both AFC and SkyPower’s unwavering commitment and dedication to ensuring a greener, more resilient world,” he said.