Paris-listed Voltalia is among investors in the company’s Series B funding round, which raised $40m in equity and closed at the end of June. The partnership is strategic as well as financial, and Voltalia will provide “experience of projects at scale”, Shaw says.
Only about 19% of DRC’s population has access to electricity, with rural penetration rates falling to 1%, according to the World Bank. That makes the country one of the least electrified in the world.
Goma-based Nuru supplies metrogrids, or urban mini-grid renewable energy generation systems with storage and distribution facilities, in the northeast DRC. The company aims to provide electricity to five million people in the country by September 2024.
Series B investors also include
- E3 Capital, the company’s largest investor,
- the International Finance Corporation (IFC),
- the Global Energy Alliance for People and Planet (GEAPP),
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