Indian bank commits US$83 million to utility-scale solar in DRC

March 20, 2019
Facebook
Twitter
LinkedIn
Reddit
Email
The DRC ambassador and Exim's managing director at the New Delhi event (Credit: Exim Bank)

India’s Export-Import Bank (Exim) is to support the rollout of utility-scale solar in the Democratic Republic of Congo (DRC) through a multi-million debt package.

The Indian bank has signed off on US$83.11 million worth of credit lines for the DRC government to build three PV plants, representing 35MW in aggregate capacity.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The support for the projects in the Karawa, Mbandaka and Lusambo provinces was announced at the annual meeting of the India-Africa Project Partnership, a scheme to strengthen economic ties between both sides.

The DRC deal emerges as the country’s solar ecosystem slowly comes to life. Schemes put forward to date include a contract for BBOXX to deploy off-grid solar kits and mini-grids, and DRC’s first solar-plus-storage minigrid.

For Exim, its new credit line comes weeks after it told Indian media it would finance 27 solar projects across 15 countries, predominantly in Africa and Latin America. As reported by The Hindu Business Line at the time, the projects – worth a combined US$1.4 billion – have been identified by the International Solar Alliance (ISA).

Exim’s solar push marks progress for the Alliance one year after its chief proponents, Indian president Narendra Modi and French counterpart Emmanuel Macron, kickstarted it at a ceremony in New Delhi.

The formal launch followed years of inception for the scheme, whose goal is to unlock US$1 trillion to back the roll-out of 1,000GW of solar worldwide. In March 2018, Indian PV players were urged by their government to deploy projects abroad, across fellow ISA member states.

Read Next

October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.
October 23, 2025
Powerlink Queensland is seeking federal approval to expand its existing 330kV Bulli Creek Substation in Southern Queensland to accommodate the grid connection of Genex Power's 775MW Bulli Creek solar PV power plant.
October 23, 2025
Queensland's rooftop solar systems have exceeded 5GW of output for the first time, marking a milestone in Australia's solar expansion.
October 22, 2025
US thin-film manufacturer First has revealed another transfer of its 45X manufacturing tax credits in a deal worth around US$775 million.
October 22, 2025
The Queensland government has launched the Social Licence in Renewable Energy Toolkit, providing local councils in Australia with resources to navigate renewable energy project engagement and community consultation processes.
Premium
October 21, 2025
PV Tech Premium spoke with academic and industry experts about the rising tide of cybersecurity concerns in Europe's solar energy sector.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal