- Export-Import Bank of India will provide a US 83.11 Million loan to DRC which includes three solar parks.
- The three solar parks total 35MW and will be located in Karawa, Mbandaka and Lusambo provinces.
- Hydroelectric projects are also included in the mix.
Export-Import Bank of India (Exim Bank) has, on behalf of the government of India, extended three lines of credit totaling $83.11 million to the government of the Democratic Republic of the Congo (DRC).
The credit will be used to finance the installation of three solar PV power projects with a total capacity of 35MW in three provinces namely Karawa, Mbandaka and Lusambo.
Projects covered under the credit extended to the government of the DRC include hydroelectric power projects, power transmission and distribution projects, cement plant, hand pumps and submersible pumps installation, and solar power projects.
The DRC is among African countries that have not yet fully exploited the deployment of renewable energy particularly wind and solar. However, recent efforts are targeting to accelerate the adoption of renewables with solar being the focus for now.
Author: Babalwa Bungane
This article was originally published on ESI Africa and is republished with permission with minor editorial changes.
