DRC: Gaia Impact Fund invests in energy company
Posted on: 19 June, 2020 at 7:54 PM
Gaia Impact Fund has announced an equity investment in Nuru, a mini-grid developer and operator in the Democratic Republic of Congo (DRC).
Nuru, which recently commissioned a 1.3MW mini-grid in Goma, DRC, aims to provide electricity to 5 million people by 2024 through solar hybrid mini-grids. The DRC represents more than half of the population of Central Africa and has also one of the lowest electrification rates, at just 15%.
Gaia Impact Fund is a French impact fund dedicated to energy access entrepreneurs. Gaia invests in startups and SMEs operating in sub-Saharan Africa and South-East Asia.
“Nuru is thrilled to be partnering with Gaia Impact Fund to bring millions of people renewable energy in the Democratic Republic of Congo,” says Jonathan Shaw, CEO of Nuru.
Hélène Demaegdt, president of Gaia Impact Fund comments, “We are very proud to commit alongside Nuru, which has a first-to-market position in DRC and is in the process of deploying one the largest off-grid solar-based mini-grid pipelines in Africa. All the connections created by Nuru’s projects are essential to address the needs of under-served urban areas and to displace diesel generation.”
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