Project Description
The Project entails the design, construction, operation and maintenance of a 233 MWp solar PV power plant and a 526 MWh battery energy storage system (BESS) to provide 30 MW baseload power supply exclusively to Kamoa Copper S.A. (KCS).
The Project is being developed by CrossBoundary Energy (CBE). MIGA has been requested to provide political risk protection against the risks of Transfer Restriction and Currency Inconvertibility (TR), Expropriation (EXP), and War and Civil Disturbance (WCD) to CrossBoundary Energy Holdings (CBE, and/or any of its group holding companies, subsidiaries, or affiliates) (the Guarantee Holder), to cover up to US$[237] million of their Shareholder Loan or Quasi-Equity investment in CBE DRC I SAS (the Project Enterprise) for a period of up to 15 years.
Kamoa Copper S.A. sources most of its electricity from SNEL under a long-standing public-private partnership (PPP). However, grid reliability remains a challenge, leading to outages and operational disruptions that require Kamoa to rely on imports and costly diesel generation. The proposed solar PV and battery storage project will provide a stable baseload power source, reducing dependence on the grid and diesel, ensuring operational continuity, and supporting Kamoa’s expansion while helping meet its net-zero commitments and energy security goals.
The Project is situated on a section of KCS’s land concession designated for energy generation for the mine. The total area spans 550 hectares, with 150 hectares allocated to the Project.
Environmental Categorization
The Project is Category B under the MIGA’s Policy on Environmental and Social Sustainability. Click here to view the Environmental and Social Review Summary.
Development Impact
The DRC’s mining sector is strategically important to the national economy but continues to face significant constraints due to insufficient and unreliable energy supply. Although the DRC possesses abundant renewable energy resources, expanding electricity access remains a major challenge. The Project is designed to address these energy access issues affecting the mining industry, with the potential to improve energy reliability, boost productivity, and support broader economic growth.
In addition, the Project is expected to contribute to substantial reductions in greenhouse gas (GHG) emissions by enabling the transition from diesel generators to renewable energy technologies. By facilitating this shift, the Project will help decrease the sector’s carbon footprint and promote more sustainable mining practices. Furthermore, the Project may also demonstrate the effectiveness of distributed energy solutions in large-scale mining operations throughout the Copperbelt region, potentially encouraging wider adoption of similar approaches.
