the Democratic Republic of Congo (DRC) is readying itself for a new solar battery manufacturing plant is set to be constructed in , to manufacture electric storage batteries to power smart cities in Africa and the world at large.
The battery plant will be constructed in partnership between US Engineering and infrastructure firm KE International and Kenyan investor Julius Mwale.
“We are investing in building a 16GW battery manufacturing plant in DRC to help power smart cities in Kenya and Africa,” said Julius Mwale the principal investor in a KSh200 billion Medical and Technology City (MMTC) in Kenya.
“The new partnerships will enable us to expand MMTC model across Africa, where we have secured 18 locations for smart cities expansion,” said Mwale.
Mwale said KE International which oversaw the construction of MMTC in Kenya will be in charge of completing the battery power plant in DRC.
“This is expected to solve the supply chain issues, in battery supplies in the world. The batteries will also be used to power electric vehicles, bicycles, and for residential and commercial purposes”. He said
The deal for the project was realized during the Global Conference with world leaders and global executives held in early May. The billionaire struck a deal worth KSh684 billion with different financiers and partners towards the realization of the battery plant.
The electric battery market is estimated to be worth $45 trillion between now and 2050. Electric batteries were the 38th most traded product in 2020 at $67 billion according to OEC, an MIT’s data analysis firm.