Nuru has secured over $40 million in Series B funding to expand renewable energy access in the Democratic Republic of Congo.

Target Information

Nuru, one of Africa’s leading renewable energy-powered metrogrid companies, recently announced the successful completion of over $40 million in Series B equity funding, with expectations to finalize an additional $28 million in project financing by the end of the month. This influx of capital will allow Nuru to initiate the construction of projects totaling 13.7 MWp, significantly enhancing its existing operations in the eastern Democratic Republic of the Congo (DRC) and addressing the critical energy deficit in the region.

Currently, less than 20% of the DRC's population has access to electricity. As the country faces increasing energy demands, Nuru’s innovative renewable energy solutions present significant market opportunities. The company utilizes utility-scale solar metrogrids, integrated with advanced technology and services, to provide reliable, renewable energy around the clock to urban communities in the DRC, promoting climate resilience and sustainable development.

Industry Overview in the DRC

The energy sector in the Democratic Republic of the Congo is characterized by one of the lowest electrification rates globally. The country possesses vast renewable energy potential, especially with its