DRC: “the financing of the Grand Inga project is in the process of being finalized with several developers and buyers” (Félix Tshisekedi)
President Félix-Antoine Tshisekedi announced significant advances in financing the gigantic large Inga project. It was during his speech on the state of the nation this Monday, December 14 in front of the parliament meeting in congress.
“Regarding the Grand Inga Project, funding is in the process of being finalized with several developers and off-takers (buyers). It is obvious that when these works are fully operational, the Democratic Republic of Congo will resume its role as African leader in energy for the well-being of all its populations and even of the continent ”, declared Félix-Tshisekedi.
The Congolese Head of State affirmed the operationalization of two agencies of the energy sector, one of which will regulate and the other set up to electrify rural and peri-urban areas.
“To date, I have the advantage of announcing that the Regulatory Authority of the Electricity sector, ARE in acronym and the National Agency of Electrification and Energy services in Rural and Peri-Urban areas, ANSER in acronym, are fully operational since the appointment of their leaders. The AER will ensure that the liberalization of the electricity sector takes place both efficiently and in order. While the ANSER, which is a first, will finally take care of the electrification of our villages which have only been very much forgotten until now ”.
And explain:
“The strategy chosen here is to quickly find means for the construction of micro and mini hydroelectric and solar power plants so as to supply energy to the main large cities and the capitals of all our territories. Soon it will also be the case for the water law, the implementation measures of which have finished being examined at the level of the Government ”.
On February 12, 2020, the DRC had signed a memorandum of understanding to the tune of more than one billion US dollars with the American firm General Electric as part of the development of the Inga 3 project. The country also signed two other memoranda of understanding. ‘agreements with China and Spain for the same Inga 3 project in 2016.
“Inga is an energy monster. That’s almost 88,000 MW. Inga alone, 45% of the Republic’s hydroelectric potential is estimated at around 100,000 MW. It is true that there has been an Inga 3 development agreement for a few years. But, we can go from Inga 1 to Inga 8. The development agreement remains open. We had Chinese and Spanish since 2016 in this Inga 3 development agreement. And, there is a group of Spanish people who left the agreement. Nobody chased them away, rather the DRC would like to have everyone with it. Americans, Chinese, Indians, Egyptians etc. are all welcome, ”explained Eustache Muhanzi Mubembe, Minister of State, Minister of Water Resources and Electricity.
In the Council of Ministers of Friday February 07, 2020, the government decided to set up a joint DRC-ADB committee to which will be entrusted with a triple mission: the development of a formal agreement on the development of Inga, the design of a detailed project matrix as well as a timetable for the implementation of different phases.
Inga III’s production capacity could reach 11,000 megawatts, which would make this dam able to supply electricity to a large part of Africa. The AfDB financed the feasibility study for about USD 15 million for the further development of this site on which the first two factories with a total site capacity. She also promised to provide advice and assistance in mobilizing the funds necessary for the realization of the Inga 3 project. As a reminder, the President of the African Development Bank (AfDB), Akinwumi Adesina, had paid a visit in June 2019 at the Inga hydroelectric site.
