Access Power, inpartnership with EREN Renewable Energy, has short-listed five candidates for the 2017 Access Co-Development Facility (ACF) competition. This is the third edition of the $7 million funding and support platform for renewable energy projects in Africa.
The five candidates were selected from a pool of 82 qualifying projects from across the continent. Projects short-list for the prize are the 75-MW Kadoma Solar PV project in Zimbabwe, Tanzania’s 30-MW Kondoa Solar PV project, Rwanda’s Rukarara hydro project, Ethiopia’s 75-MW Beseka Solar project, and the 48-MW Winneba Wind project in Ghana.
These candidates will now 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), OPIC, and Access Power at the Africa Energy Forum in Copenhagen on June 7.
A maximum of three projects will be selected to win a share of the $7-million prize. The winners will be invited to sign a JDA 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 IFC plans to support the Kenya Power and Lighting Co. (KPLC) in implementing a set of loss reduction measures. In a statement the company said that these measures are aimed at reducing the technical and commercial losses experienced by the power utility, which are currently around 19%.
The advisory engagement is expected to catalyze investment in clean energy generation, transmission and distribution as well as other related infrastructure in Kenya.