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Nuru Receives US$1.5 million to Expand its Solar Operations in DRC

By Green Building Africa - Net Carbon Zero Buildings and Cities March 9, 2023 No Comments

The national flag of the DRC. Image credit: iStock

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The US$1.5 million investment is provided in equal parts by E3 Capital (formerly Energy Access Ventures), Renewable Energy Performance Platform (REPP) and Proparco, the private sector financing arm of the French Development Agency (AFD).
This investment is part of a series B fundraising launched by Nuru to support the development of its solar mini grid activities in the Democratic Republic of Congo (DRC).

Nuru has already installed the first ever urban solar mini-grid in Goma, a city located in the North Kivu province. By opening its capital to a consortium of international investors, the company aims to develop an installed capacity of 13.7 MWp in the cities of Goma, Kindu in the province of Maniema and Bunia in the province of Ituri.

“Nuru is delighted to have partners like REPP, Proparco and E3 Capital giving us the means to provide life-changing energy access in an extremely challenging environment,” says Jonathan Shaw, Nuru’s co-founder and CEO. The Goma-based company already has an installed capacity of 1.7 MWp supplying people, industries and businesses.

Author: Bryan Groenendaal

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Green Building Africa - Net Carbon Zero Buildings and Cities

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.