Access Power launches 2017 co-development Facility (ACF) competition with the support of Power Africa

The funding and support platform includes solar and wind projects
The funding and support platform includes solar and wind projects

Access Power (Dubai, UAE), a developer, owner and operator of power projects in emerging markets, and a Power Africa partner, on March 8th, 2017 announced the launch of ACF 2017, the third edition of the funding and support platform for renewable energy projects in Africa.

The official opening of the submissions process was announced at the Power Africa Annual Partners Meeting in Washington, D.C.

 

Submission window opens as African renewable energy projects compete for a share of USD 7million

Now in its third year, the ACF is an innovative USD 7 million financial support mechanism designed to provide local power project developers and originators with project development support, technical experience, expertise and funding required to bring their renewable energy projects to life.

ACF 2017 aims to further build on the success of the previous two years where a total of five projects passed the final round of selection and three projects successfully executed joint development agreements with Access Power.

This year’s finalists will once again be evaluated and scored by an independent panel of industry experts comprised of senior representatives from Power Africa, InfraCo Africa, Proparco, the Dutch Development Bank (FMO) and Access Power who will provide Access Power with recommendations on the commercial, technical, social and environmental viability of each project based on a host of market, regulatory, environmental and economic factors.

The winners of ACF 2017 will be announced during a live final evaluation panel on June 7th, 2017 during the Africa Energy Forum in Copenhagen.

 

The top three finalists will subsequently enter into direct Joint Development Agreement (JDA) discussions with Access Power. Once these are successfully concluded, Access Power will take an equity stake in those projects and commence independently funding their third-party development costs such as feasibility studies, grid studies, environmental and social impact assessments and due diligence fees

Power Africa is a U.S. government-led initiative coordinating 12 U.S. government agencies and a diverse coalition of more than 140 public and private sector partners, including bilateral and multilateral development partners.

“The ACF is an exciting concept, and we are delighted to see Access Power’s efforts to transform power delivery and access across Africa,” Power Africa Coordinator Andrew Herscowitz stated.

The ACF demonstrates how Power Africa’s private sector partners are working to help accelerate progress towards our shared goals of increasing new electricity generation capacity and increasing household and business connections in Sub-Saharan Africa.” 

The ACF 2017 application form and guidelines are available on Access Power website www.access-power.com.

 

 

 

 

2017-03-09 | Courtesy: Access Power | solarserver.com © Heindl Server GmbH

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