Soleos Energy and Melci Holdings Announce $200M Solar Project in DRC

Soleos Energy, in partnership with Melci Holdings, has announced plans to develop a 200MW solar photovoltaic (PV) project in the Democratic Republic of Congo (DRC), a move set to enhance the region’s renewable energy capacity.

With an investment of $200 million, the project will provide clean electricity to over a million people, contributing to both environmental sustainability and economic growth in the country.

The solar power plant will be situated in Fipango village, within Kipushi territory in the Haut-Katanga province. It is expected to generate approximately 350 million kilowatt-hours of electricity annually, while also cutting carbon dioxide emissions by 300,000 tons each year.

Dhaval Jiyani, CEO of Soleos Energy, expressed enthusiasm for the collaboration, stating, “We are excited to collaborate with Melci Holdings on this transformative project, which will provide much-needed renewable energy infrastructure in the DRC. This initiative will address the region’s growing energy demand while delivering social and environmental benefits, including job creation and community development.”

Melci Holdings’ Director, Prof. Madiba, highlighted the significance of the project for the DRC’s energy sector, noting,“This project represents a turning point in the energy landscape of the DRC. By harnessing solar energy at this scale, we will be able to meet the critical energy demands of the region and pave the way for sustainable growth.”

The project will operate under a 25-year Power Purchase Agreement (PPA) with the national utility, Société Nationale d’Électricité (SNEL), securing long-term energy stability for the DRC and ensuring strong returns for investors.

Jason Temasfieldt, CFO of Soleos Energy, emphasized the importance of the partnership with Melci Holdings in executing large-scale solar projects. ““This is not just about energy—it’s about creating economic opportunities and sustainable development for local communities,” he said, adding that Soleos Energy aims to develop up to 1GW of solar projects in the DRC.

The project is set to create over 2,000 jobs during its construction phase and more than 500 permanent positions once operational. The groundbreaking ceremony is scheduled for October 19, 2024, with the project expected to be completed by the end of 2025.