DUBAI, UAE, and PARIS, FRANCE – 22 May, 2017: Access Power, a developer, owner and operator of power projects in emerging markets in partnership with EREN Renewable Energy a global independent power producer are pleased to announce the five shortlisted candidates of the 2017 Access Co-Development Facility (ACF) competition, the third edition of the innovative US$7 million funding and support platform for renewable energy projects in Africa.
This year’s projects were selected from a pool of 82 qualifying projects from across the continent, representing a full spectrum of renewable energy technologies. The successfully shortlisted projects will progress to the final stage of the evaluation process where they will have the opportunity to present their projects to a panel of industry experts, comprised of senior representatives from Power Africa, InfraCo Africa, Proparco, the Dutch Development Bank (FMO), Overseas Private Investment Corporation (OPIC) and Access Power at the Africa Energy Forum in Copenhagen on June 7, 2017. A maximum of three projects will be selected to win a share of the US$7 million prize. The winners will be invited to sign a Joint Development Agreement with Access Power who will together with EREN Renewable Energy, take a majority equity stake and help fund third-party development costs, including feasibility and grid studies, environmental and social impact assessments, as well as due diligence fees.
The five shortlisted projects are as follows:
With the topic of rural electrification in the spotlight during the recent World Economic Forum Africa Summit as one of the key catalysts for economic growth, the ACF is creating a route to market for sustainable energy projects that can combat energy poverty and provide long-term economic growth throughout the continent. From the 23 countries represented in this year’s edition, 18 have rural electrification rates below 30%, further highlighting the challenges faced by many African nations in providing power to those communities.