The energy company Nuru, which has its headquarters in the Democratic Republic of the Congo (DRC), is on track to construct 13.7MWp of isolated solar-hybrid grids by the middle of 2024 after receiving an initial US$1.5 million from investors in a convertible note round before the close of its Series B funding round.
Nuru, a business founded in 2020, installs and manages metrogrids powered by renewable energy sources in key urban areas of the DRC.
Their objective is to offer connections to five million users that rival the best in the world.
Renewable Energy Performance Platform (REPP), Proparco, and E3 Capital have all committed to contribute $500,000 each to Nuru. This will bolster the company’s Series B equity campaign, which aims to raise $25 million and assist it in filling a financing gap.
An amazing group of overseas investors will utilise the leftover funds once the financial transaction is finished.
The capital increase will assist in expediting the completion of three nationally significant late-stage development projects in Goma, Kindu, and Bunia, which will have a combined installed capacity of 13.7MWp once they are completed.
Jonathan Shaw, co-founder and CEO of Nuru, “Nuru is thrilled to have partners like REPP, Proparco, and E3 Capital empowering us to deliver life-changing energy access in an extremely challenging environment. REPP, Proparco, and E3 Capital have demonstrated tangible commitments to helping Nuru achieve our mission of delivering reliable, affordable, renewable energy to five million people in the DR Congo.”
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A Previous Project of Nuru
At Goma, the capital city of the North Kivu region in the Democratic Republic of the Congo, the Nuru firm placed into operation a tiny solar hybrid power plant that also includes a storage system (DRC). The capacity of the facility is 1.3 megawatts (MW).
A modest hybrid power plant has just been acquired by the city of Goma. Nuru is responsible for the construction of the building that will be opened to the public on February 4, 2020 in the city of North Kivu, which is located in the Democratic Republic of the Congo (DRC). A power plant has been constructed in the Ndosho district by the firm that is situated in Goma. It is made up of 4,000 panels, each of which has the capacity to generate 335 W.
Connecting the energy storage system at the Goma Hybrid Solar Power Station to the Project
Solar inverters, which take the energy carried by the sun’s rays and transform it into electricity, are what connect all of these panels together. Hence, the total solar system has the potential to generate 1.3 megawatts. Also, the facility is outfitted with batteries that are housed within a container for the purpose of storing excess electricity. As a result, the power plant will be able to continue to supply the population even after sunset.
A number of backup generators with a combined capacity of around 364 kW are included in the solar power plant that Nuru constructed in Goma. A mini-grid that was also constructed by Nuru and was furnished with transformers and a transmission line is used to facilitate the direct delivery of electricity generated by the hybrid plant to the local populace.
The company narrated that Nuru has taken the necessary precautions to precisely organise its energy network, which consists of power poles that are 12 metres high for medium voltage and poles that are 8 to 10 metres high for low voltage. These environmentally friendly poles are constructed of bamboo, and they are used to support the power cables that supply consumers as well as the smart metres that measure the consumption of customers.
The firm claims that the commissioning of Goma’s hybrid off grid is the first step in a project that seeks to deliver electricity to 5 million people by the year 2024. The company was established in 2015. By constructing solar hybrid power plants in the provinces of North Kivu, Maniema, Ituri, Haute Uélé, and Kasai, Nuru anticipates that it will be able to generate an extra 23 MW within the next twenty-four months.
In order to carry out its plan, Nuru was able to count on the assistance of its partners, which include off-grid service providers such as Energy Peace Partners, Solarcentury, and PowerGen Renewable Energy. In addition, Energy Access Ventures (EAV), Electrification Financing Initiative (ElectriFI), an investment fund that is owned by the European Union and whose mission is to assist the private sector in the provision of electricity in areas that are currently underserved, has provided backing to the company.