Transformative alliance: AFC and SkyPower Forge Strategic Partnership to Accelerate Renewable Energy Deployment in the Democratic Republic of Congo

In a significant move aimed at advancing renewable energy deployment in the Democratic Republic of Congo (DRC), Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has partnered with SkyPower Global to enter a Joint Development Agreement for the first phase of SkyPower’s Green Giant project in the DRC. This initial phase, comprising 200MW, marks a crucial step towards realizing the landmark 1,000MW Solar Power Purchase Agreement (PPA) signed between SkyPower and the DRC’s state-owned utility, Société Nationale d’Electricité (SNEL).

The collaboration between AFC and SkyPower combines the former’s proven track record in successfully de-risking and financing well-structured infrastructure projects across Africa with the latter’s extensive global experience in developing large-scale solar projects. This partnership underscores both organizations’ commitment to the United Nations Sustainable Development Goals, particularly emphasizing the pivotal role of partnerships in accelerating renewable energy adoption and combating climate change, especially in the aftermath of COP28.

The DRC Green Giant project, initiated with the signing of the initial PPA with SNEL, signifies a historic commitment from the DRC government to bolster electrification rates through renewable energy partnerships. President Félix Tshisekedi’s strategic vision aims to significantly enhance the nation’s clean energy output, projecting a substantial boost to the DRC’s GDP and the creation of around 30,000 job years.