Democratic Republic of Congo: Financing Access signs two electricity purchase contracts with the National Electricity Company (SNEL)

The project development company Financing Access Congo announces the signing of two power purchase agreements concerning two solar photovoltaic plants located in the province of Haut-Katanga (in Likasi and Kolwezi) with the Company National Electricity Company (SNEL), the public electricity company of the Democratic Republic of the Congo.

The project is led by Financing Access Congo in partnership with the Green Power Capital (GPC) investment fund. Led by Song Donsheng, ex-president of Sinohydro, the latter specializes in financing renewable energy projects and is based in Hong Kong. The OTEC Group, specializing in the design of high added value buildings, will provide operational and technical support in the conduct of the project.

The Likasi and Kolwezi power plants, with a capacity of 100 MW each, will help meet the Congolese government’s dual desire to secure the energy supply in the country’s major urban and peri-urban centers, while increasing the share of renewable energies in its energy mix. The total investment for these two projects amounts to a total of US $ 305 million, of which 148 will be invested for the Kolwezi plant and 157 for the Likasi plant.

Concluded for a period of 30 years, the concession agreements, negotiated within the framework of an innovative public-private partnership, imply the responsibility of Financing Access Congo for the delivery of infrastructures and allow SNEL to propose projects that create strong value at a competitive rate for the Democratic Republic of the Congo.

The two power plants, located respectively in Ditengwa (Lualaba province, about 15 km north of Kolwezi), and Luilu (Haut Katanga province, about 6 km south of Likasi town), will supply the network Congolese have an average annual production of 244.9 GWh and 254.3 GWh, which is enough to supply more than 1.25 million inhabitants.

“The signing of these two electricity purchase contracts makes it possible to increase energy production while ensuring the competitiveness of our industry thanks to a controlled cost per kWh. It also demonstrates our ability to mobilize private sector investment and expertise. By multiplying projects like these, we will massively accelerate the emergence of green industry in the country, ”commented Olivier Mwenze Mukaleng, Minister of Water Resources and Electricity of the Democratic Republic of Congo.

“By signing this agreement, we will help secure the energy supply in large urban and peri-urban centers, currently estimated at 9% of its total capacity. Likewise, we will be able to ensure the supply of electricity to industrialists in the area, in particular the mining companies which represent the economic heart of Haut-Katanga and Lulaba, thanks to clean and sustainable energy ”, declared Jean-Bosco. Kayombo Kayan, Director General of SNEL.

“The agreement signed today marks an important step in the development of Financing Access. We welcome the frank and close collaboration with SNEL and the Democratic Republic of the Congo. These two plants represent a considerable step forward for the country in terms of public-private partnership in solar energy and perfectly illustrate our ambition to support African States in their march towards emergence by enabling them to achieve energy autonomy ” , added César Kouka, Chairman and CEO of the Financing Access Group.

LEAVE A REPLY

Please enter your comment!
Please enter your name here