The Trade and Development Bank (TDB) is assisting EAP in the project planning phase, with the goal of reaching financial close in 2024. To that end, TDB has extended the technical support facility for EAP to analyze and update crucial studies and other project documentation in accordance with the World Bank Performance Standard .TDB will act as the exclusive lead arranger of the debt financing.
In addition to TDB, EAP also received support from USAID’s East Africa Power Program and the Sustainable Capital Africa Facility to accelerate the projects to financial close, demonstrating a collective commitment to transforming the energy landscape in the DRC.
The two solar photovoltaic projects, with an installed capacity of 133 MW each, are strategically located in the Katanga and Lualaba Provinces of the DRC, in Kolwezi and Likasi, at the heart of the mining region for strategic minerals used in the manufacturing of electric vehicles and electronics.
“We are thrilled to announce the acquisition of these solar power projects in the Democratic Republic of Congo,” said Dan Klinck, Founder & CEO at East African Power. “Together, with the support of esteemed organizations like TDB, we are excited to support the growth of the IPP market in the DRC, providing clean, reliable, and sustainable power to drive economic growth and enhance the quality of life for the people of the DRC.
