The 600 MW Solar Power Project in the Democratic Republic of the Congo (DRC) represents a strategic renewable energy investment designed to address one of Africa’s most significant power deficits. Located northeast of Kinshasa, the project will generate approximately 1,040,600 MWh annually, leveraging high solar irradiation levels across a 900-hectare site.
The facility will employ MonoPERC (monofacial or bifacial) photovoltaic modules (1500V DC) mounted on one-axis tracking systems (+/- 60°), ensuring optimal performance and efficiency. The plant’s output will connect to the Kimwenza Substation (220 kV) via a 39.6 km transmission line, enhancing grid reliability and expanding national energy access.
This initiative is developed under a 25-year Power Purchase Agreement (PPA) with the National Electricity Company of DRC (SNEL), structured as a take-or-pay model inclusive of deemed energy provisions. The PPA is backed by the Provincial Government of Kinshasa and governed under English law, with arbitration through the International Chamber of Commerce (ICC), Geneva.
Project Framework and PPA Highlights
Client/Off-taker: SNEL (National Electricity Company)
Seller/Developer: SUNPLUS SARL
Contract Term: 25 years
Tariff: USD 0.095 per kWh (first 3 years fixed), adjusted thereafter per U.S. CPI
Payment Security: Take-or-pay structure with continued payments in case of connection disruptions or disputes
Government Incentives: ▪ Free land provision and exclusivity rights
▪ Full customs and tax exemptions
▪ Provincial parliamentary ratification
▪ BOOT/IPP payment guarantees
Financial Overview
Estimated Project Cost: USD --- million (Based on an average of USD 750,000 per MWp)
Cost Breakdown:
EPC (including design, materials, and construction): USD 200–220 million (60–70%)
Solar Panels: USD 115 million
Land Acquisition: USD 20 million
Mounting Structures: USD 90 million
Electrical Infrastructure: USD 30 million
Monitoring & Control Systems: USD 5 million
Miscellaneous/Contingencies: USD 10 million
Total Investment: USD 450 million (base case)
Financial Performance (Projections):
IRR: 20%
Payback Period: 5 years
Annual Revenue (Year 1): USD 98.8 million
Operational Lifespan: 25 years
These indicators reflect robust financial viability, with strong cash flow generation and early capital recovery under a secured long-term PPA.
Socio-Economic and Environmental Impact
The project will play a transformative role in the DRC’s energy transition by:
Providing clean energy to over 1 million households
Creating thousands of local jobs during construction and operations
Stimulating regional economic development through reliable power supply
Reducing CO₂ emissions by over 600,000 tons annually
Supporting the DRC’s alignment with UN Sustainable Development Goals (SDGs 7, 8, 9, and 13)
Currency: USD
Target Price / Revenue: TBD
Target Price / EBITDA: TBD
