The International Solar Alliance (ISA) has achieved a significant milestone with the launch of its inaugural pilot project under the Global Solar Facility (GSF). In collaboration with leading solar power company Nuru in the Democratic Republic of the Congo (DRC), the initiative aims to establish 15 megawatts (MW) of solar metro grid capacity across three provinces in Eastern Congo.
Dr. Ajay Mathur, Director General of the International Solar Alliance, underscored the transformative potential of Nuru’s innovative approach to renewable energy access in a country where less than 20% of the population currently has energy access. The project, facilitated by the GSF, is set to power approximately 5 million people by installing a series of mini-grids. The GSF is providing essential insurance capital to Nuru, sourced from the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group, significantly enhancing the project’s viability.
Jonathan Shaw, CEO and Co-Founder of Nuru, expressed gratitude for the ISA’s support, highlighting its critical role in managing risks and maintaining affordable pricing for clients. Nuru’s ambitious plan includes deploying an additional 39 MW in subsequent phases, with the goal of providing electricity to up to 5 million people by 2025.
The ISA’s GSF, with a $35 million funding, aims to stimulate solar investments in underserved areas across Africa, fostering commercial capital flow. Shri R K Singh, Minister of Power and New & Renewable Energy, Government of India, had earlier emphasized the GSF’s objective to raise $100 million USD, fortifying investments and expediting the transition to solar energy in Africa. Following its African initiatives, the GSF plans to expand its reach globally, tailoring Regional Facilities to meet specific regional requirements and supporting innovation in the solar energy sector.
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