By: Energy capital & power

The Democratic Republic of the Congo (DRC) has signed two confidentiality agreements with Emirati investment firm NG9 Holding. The agreements aim to diversify the DRC’s economic partnerships and support the transformation of its energy and mining sectors.

The first agreement – signed with Congolese renewable energy firm Kipay Energy – will see NG9 Holding offer financial support for the Sombwe hydroelectric project in Haut-Katanga. Developed by Kipay Energy, the project combines a hydroelectric station with a 46 MW solar facility to produce 166 MW of renewable energy.

The second agreement was signed with mining firm Buenassa and aims to support the DRC’s first integrated copper-cobalt refinery. With production starting in 2027, the refinery targets an annual output of 30,000 tons of copper cathodes and 5,000 tons of cobalt sulphate. The first phase of the development is estimated to cost $600 million.

These agreements will help lay the groundwork for funding Congolese-led projects that currently lack financial backing.