On May 20, 2025, Moyi Power announced the official launch of its fundraising campaign to finance the construction of its hybrid infrastructure in the north of the Democratic Republic of Congo (DRC). The project aims to provide clean, reliable electricity to over a million people in the towns of Bumba, Gemena, and Isiro.

The $340 million project involves building hybrid power plants combining solar energy and battery storage systems (BESS), which use diesel as a backup solution, and deploying urban distribution networks. According to the project promoters, around 80% of the funds required for the first phase, about $160 million, have already been identified. The current fundraising round aims to secure the remaining $180 million, as debt and Viability Gap Funding (VGF), a back-up financing mechanism designed to ensure the project's economic viability and commercial attractiveness.

"Much has been done to bring Moyi Power to this stage, and we are now ready to launch the next phase to raise the funds needed to build the project. With the right mix of funding, Moyi will be able to build an infrastructure that will provide affordable and reliable electricity to customers in the northern DRC and demonstrate a replicable model for distributed energy across Africa," said Chris Flavin, interim managing director of Gridworks.

The Moyi Power project is developed by a consortium comprising Gridworks, AEE Power, and Eranove, with the support of the African Development Bank (AfDB) and the Private Infrastructure Development Group (PIDG).

This project is part of the National Energy Compact, presented in November 2024 by the Congolese government. The Compact requires over $36 billion in investments, including nearly $20 billion from the private sector. It should help boost the DRC’s electrification rate from 21% to 62.5% by 2030. The project could serve as a model for the electrification of other off-grid towns in the DRC, as part of the Mission 300 initiative.

This article was initially published in French by Abdoullahi Diop

Edited in English by Ola Schad Akinocho