Accessing the $1 Billion Market
ELAN and ACERD co-hosted an investment forum highlighting the investment opportunities in the renewable energy sector. The event titled “The Renewable Energy Investment Opportunity in the DRC: Accessing the $1 Billion Market” attracted over 130 diverse stakeholders, both domestically and internationally, including companies, investment funds and government ministries.
The theme for the event, Accessing the $1 Billion Market, built upon previous ELAN RDC work highlighting opportunities for the private sector. Making use of an African Development Bank study, ACERD and ELAN tried to give those already in the sector and those considering working in DRC’s fledgling renewable energy sector a sense of the market size. The AfDB report, based on current grid coverage, estimates “an annual potential market of US$921 million for mini-grid and off-grid solutions”. With the addition of clean cooking products, the market is well over $1 billion.
The UK Ambassador to the DRC, John Murton, opened the event sharing his hope that unleashing private investment would help the sector explode like mobile phones a decade prior. Following remarks from a representative from the Presidency, the event consisted of four discussion panels on day one with the following themes:
Opportunities and development prospects in renewable energy. Panelists included the World Bank, the Ministry of Energy, and the African Development Bank.
The enabling environment for renewable energy. Panelists included ACERD, the European Union, and the investment promotion agency, ANAPI.
Investment in the renewable energy sector. Panelists included SunFunder, XSML Capital, UNCDF and the World Bank
Consumer finance for renewable energy. Panelists included Rawbank, GSMA, Orange Money and Equity Bank.
The diverse group of panellists and attendees fostered productive discussions between private sector actors, government representatives, SNEL, multi-lateral organizations, donors, and investors.
On the second day of the forum, companies already offering products and services in the DRC presented on the opportunities and challenges that they see on the ground. Altech, Bascons, BBOXX, Congo Energy, DEV Solaire, Greenlight Planet and Kit4Africa all presented. Their presentations are available on the forum webpage.
If you are a company operating or considering operations in the DRC, an investor looking at the sector, or otherwise involved in the renewable energy and haven’t been in touch with ACERD, please contact them directly via email@example.com.