Africa’s largest copper producer courts investors for $12 billion to fix power shortages as US links electricity expansion to its growing critical minerals ambitions

“We’ve held extensive discussions with financial institutions, and the outlook is very positive,” Teddy Muba Lwamba, chief executive officer of state-owned Société Nationale d’Électricité (SNEL), told Bloomberg.

DR Congo has about 3,350 potential hydropower sites that could generate a combined 167,200 megawatts, according to government figures. The Inga complex alone has the potential to produce more than 40,000 megawatts.

The government now favours a scaled-down Inga project targeting 4,800 megawatts for domestic mining and industrial users, compared with earlier plans for an 11,200-megawatt facility that would also supply electricity to countries including South Africa, Nigeria and Egypt.

The country’s mining companies require approximately 5,800 megawatts but receive less than half of that from state-owned electricity utility SNEL. The utility supplements supply with 375 megawatts of imported power and about 400 megawatts from diesel and solar generation.

The shortages have forced miners to rely on expensive diesel generators, adding to operating costs as fuel prices rise amid the US-Iran conflict.

The investment drive also comes as Washington seeks a greater role in Congo’s critical minerals industry. A strategic economic partnership signed last year gives American companies opportunities to participate in mining and infrastructure projects, including Inga.

The US State Department said expanding electricity supplies would help American businesses grow their operations while strengthening mineral supply chains.

To attract capital, the government plans to split SNEL into separate generation, transmission and distribution businesses. The utility is also restructuring its debt to improve its financial position.

In October, SNEL signed an agreement with Turkish company Karpowership to supply 135 megawatts of electricity to Kinshasa by the end of 2026 through a floating power plant stationed at the port of Matadi.

The government is also negotiating the development of the 132-megawatt Portes d’Enfer hydropower project in Tanganyika province, with Belgian construction group BESIX among the companies involved in discussions.

Another proposed project involves a 700-kilometre transmission line linking Tanzania to eastern Congo, potentially delivering 700 megawatts to mining operations, including CMOC Group’s Tenke Fungurume copper complex. The route could incorporate an underwater cable across Lake Tanganyika.