ImpactAlpha, July 6 — Nuru (Swahili for “light”) has secured over $40 million to break ground on three projects in the DRC’s eastern region. One of the projects, located in Bunia, would be the largest off-grid solar metrogrid in sub-Saharan Africa.
The DRC “suffers from one of the lowest electrification rates in the world” despite its immense renewable energy potential, said Joseph Nganga of the Global Energy Alliance for People and Planet, which backed the Series B equity round. Other investors include the IFC, Schmidt Family Foundation, Proparco and GAIA Impact Fund.
In a separate deal, Actis, a UK-based sustainable infrastructure investor, is selling South African clean energy producer BTE Renewables to Engie and Meridiam. BTE has a nearly 500-megawatt operating portfolio of wind and solar assets.
Engie will acquire BTE’s five assets in South Africa while Meridiam will acquire a project in Kenya.