Access Infra Africa revealed the four finalists of the Access Co-Development Fund (ACF), a $ 5 million competition launched in April 2015 to bridge the gap between early stage African renewable energy projects and the expertise and funding they require to become operational.
The inaugural ACF received 55 submissions from project originators in 18 countries across Africa, including Cameroon, Kenya, Nigeria, South Africa, Morocco, Ghana, Rwanda and Tanzania. The submissions covered a range of renewable energy technologies including solar, wind, hydro, hybrid and bio-mass.
Having reviewed all submissions, Access short-listed four projects to contest the final round of the ACF at a live session on the main stage of the Africa Energy Forum (AEF) on June 11.
The finalists are Quaint Global Energy Solutions out of Nigeria with a 50-MW solar project; Flatbush Solar out of Cameroon with a 20-MW solar project; ADA Solar Energy from Ghana with a 20-MW solar project; and Wagonanze Investments from Tanzania with a 10-MW solar project.
The winning project(s) will enter into a Joint Development Agreement with Access. Under this agreement, Access will take an equity stake in the winning project(s) and fund third party development costs such as feasibility studies, grid studies, environmental and social impact assessments and other due diligence fees.
Access will also support the winner(s) with technical support, financial structure, and development process management.