Buffett-financed 13.8 MW small hydro project opens in DRC

Democratic Republic of Congo

A 13.8 MW hydropower plant financed by American philanthropist Howard G. Buffett is now delivering much needed electricity to the Democratic Republic of Congo's North Kivu province.

Located in the town of Matebe, the unnamed US$19.7 million small hydroelectric project is one of three in the province to be bankrolled by the son of billionaire investor Warren Buffett.

The Howard G. Buffett Foundation has also pledged an additional $29 million toward the other two plants, with Belgium and the European Union also contributing.

Buffett's efforts are part of his initiative to help develop DRC -- less than 16% of which has access to electricity, contributing heavily to the country's rank amongst the lowest on the United Nations' Human Development Index.

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