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:
• Zimbabwe: 75MW Kadoma Solar PV project
• Tanzania: 30MW Kondoa Solar PV project
• Rwanda: 9.7MW Rukarara Hydro project
• Ethiopia: 75MW Beseka Solar project
• Ghana: 48MW Winneba Wind project
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.
West Africa is a region that has been highlighted as a key growth area for Access Power as well as for renewable energy technologies in general. This was reflected in this year’s applications with over a third of all projects originating from Ghana and Nigeria.
Nearly a quarter of project applications hailed from Nigeria, home of the ACF 2015 winning 50MW Abiba solar project as well as the 2016 ACF winner, a 50MW Lagos wind project. The Abiba solar project is approaching financial closure while the Lagos wind project is into the development phase.
Meanwhile across the Rift Valley, Kenya, Tanzania and Uganda combined make up over a quarter of total project applications in a clear illustration of East Africa’s unique combination of favourable geographical conditions and an increasingly supportive regulatory environment for renewable energy.
