Access Infra Africa launched the Access Co-Development Fund (ACF), a $5 million competition designed to bridge the gap between early stage renewable energy projects in Africa and the expertise and funding they require to come to operation.
Open to entries between April 1 and May 20, the ACF will short list up to five projects from those submitted for a final round of screening by a panel of experts. The final round of screening will take place in June during the Africa Energy Forum (AEF) in Dubai.
The winning projects from the AEF final round will enter into a joint development agreement with Access. Under this agreement, Access will take an equity stake in the successful projects and fund third party development costs related to the projects, such as feasibility studies, grid studies, environmental and social impact assessments and other due diligence fees. The successful project(s) will also be able to draw upon Access’ expertise for technical support, financial structuring and development process management.