Aerial view of a dam surrounded by forests and water bodies, showcasing Africa’s natural beauty and renewable energy sites.
The World Bank is committing $1 billion to revive the Inga III hydropower project in the DRC, with an initial $250 million to fund key studies, utility reform, and investor outreach. Part of the ambitious Mission 300 plan to provide electricity access to 300 million Africans by 2030, Inga III could triple the DRC’s current capacity and spark $85 billion in private investment. The project is expected to cost a total of $10 billion. Despite past setbacks—from failed deals to corruption scandals—the project’s potential remains massive, with the Congo River site capable of generating 40,000 megawatts – the most in the world. “Still, concerns persist about local displacement, growing national debt, and doubts over project transparency and feasibility. The DRC will pitch the project to European investors this week, hoping this long-delayed dream finally gains the traction it needs to become a reality.
Bloomberg