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Canada’s EAP acquires a majority stake in two solar projects (266 MW) in Congo DR

East African Power (EAP), a Canadian renewable developer, has acquired an 85% stake in two 133 MW solar power projects in Congo DR. The projects, which should generate 494 GWh/year, are located in Likasi (Katanga province) and in Kolwezi (Lualaba province) in the south-east of the country, at the heart of the mining region for strategic minerals used in the manufacturing of electric vehicles and electronics. They secured 20-year Power Purchase Agreements with the Congolese national power utility, Société Nationale de l’Electricité (SNEL)

The Trade and Development Bank (TDB), the financial arm of the Common Market for Eastern and Southern Africa (COMESA), is supporting EAP in the project preparation process with the goal to achieve financial close in 2024. In addition to TDB, EAP has also received support from USAID's East Africa Power Program and the Sustainable Capital Africa Facility to accelerate the projects to financial close.

Only 20 MW of solar capacity is operational in Congo DR, accounting for less than 1% of the country’s total capacity (2021).

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