Nuru Sasu, a Democratic Republic of Congo-based electricity access provider, has secured $1.5 million in funding to expand its operations in the country. The company which finances and builds solar photovoltaic mini-grids will utilise the fund to develop 13.7 MWp of solar energy.
The recent investment is part of a series B fundraising launched by Nuru Sasu which aims to support the development of solar PV energy in this central African country. The investment is provided jointly by the investors E3 Capital (formerly Energy Access Ventures), Renewable Energy Performance Platform (REPP), and Proparco (private sector financing arm of the French Development Agency) in equal parts.
Nuru plans to develop installed solar capacity in three DRC cities by opening its capital to a consortium of these international investors. The solar energy provider will install PV mini-grids in the cities of Kindu (Maniema province), Goma (North Kivu province), and Bunia (Ituri province).
According to Jonathan Shaw, Co-Founder and CEO of Nuru Sasu, the company is delighted to have international partners such as E3Capital, REPP, and Proparco, providing them with the investment needed for arranging life-changing energy access in DRC’s extremely challenging power environment. Nuru installed its first solar mini-grid in the country in 2017 and currently has a total installed capacity of 1.7 MWp through solar PV.
In addition to this latest project, Nuru is also developing a larger project with a capacity of 35 MWp. Once completed, these solar mini-grids will collectively provide access to electricity to 230,000 people as well as around 5,300 businesses and institutions, most of which rely on polluting fuels for their electricity needs.
The World Bank’s 2020 report says that more than 80% of people in the Democratic Republic of Congo still have no access to electricity. Nuru’s solutions will contribute to the diversification of the country’s electricity mix, which heavily depends on hydroelectricity.
