The African Development Bank (AfDB) has been named the mandated lead arranger for the Moyi Power metro-grids project, a $340 million private sector-led electrification initiative in the Democratic Republic of Congo (DRC). The project is now entering the financing stage.
Spearheaded by the Moyi Power consortium, which includes Gridworks, Eranove, and AEE Power, the initiative aims to provide clean, reliable, and affordable electricity to one million people across three cities in the DRC—Bumba, Isiro, and Gemena. The DRC is a country where more than 80% of the population currently lacks access to electricity.
Utilizing solar photovoltaic energy, the project will offer 24/7 electricity and street lighting, using a utility-scale approach that is designed to provide sustainable energy solutions. The project’s name, “moyi,” which means “sun” in Lingala, reflects its commitment to harnessing solar power for long-term impact.
Kevin Kariuki, AfDB vice-president for power, energy, climate, and green growth, expressed pride in the bank’s involvement, noting that the Moyi Power project aligns with AfDB’s priorities, including “Light Up and Power Africa” and SDG 7 (affordable and clean energy). He emphasized the potential of blended finance and private-sector partnerships in achieving sustainable energy access.
The project is expected to be self-sufficient in its initial phase, with plans for further expansion over a 20-year concession period. The AfDB’s support is expected to help deliver a model that can be replicated across the DRC and other African regions.
Gridworks interim co-CEO Chris Flavin highlighted the importance of the AfDB’s role in the project, noting that Moyi will not only bring reliable, affordable electricity to northern DRC but also showcase the scalability of distributed energy solutions across Africa.