IFC Mobilizes $400 Million for Electrification via Solar Mini-Grids in DRC

The International Finance Corporation (IFC), a subsidiary of World Bank Group, has launched its Scaling Mini-Grid (SMG) program in the Democratic Republic of Congo (DRC). Under the program, IFC will mobilize $400 million in private investment for electrification through mini-grids powered by solar energy.

The SMG program of IFC is dedicated to developing and stimulating investment in renewable energy-based mini-grids in developing and under-developed countries, many of which are in Africa, bringing low-cost, reliable, and sustainable energy to people.

The program recently launched in the DRC will initially target two cities, Mbuji-Mayi and Kananga, both located in Central DRC. The initiative will help the Government of the DRC to develop 180 MW of solar capacity with electricity storage, which will bring clean power to 1.5 million people, including households, schools, businesses, and medical facilities.

Makhtar Diop, IFC’s Managing Director, and Executive Vice President said, “IFC and its partners in the DRC government have met with local authorities in the provinces of Kasai-Oriental and Kasai-Central to launch studies to assess local demand for electricity in the region and begin to identify potential sites for solar photovoltaic power plants.”

In DRC, decentralized solutions are currently being used for electrification, including solar home systems by many renewable energy companies as well as off-grid solar systems capable of powering an entire community. Through its program, SMG is proving the effectiveness of solar mini-grids in electrifying the least developed countries like the DRC.

According to the World Bank’s 2019 report, the electricity access rate of the country is only 19% with an estimated population of nearly 90 million. The DRC government has set the target of connecting 30 percent by 2024 to meet the urgent need for increased power production.