subscribe: Daily Newsletter
search the site
African power projects share $7m prize
Access Power, a developer, owner and operator of renewable power projects in emerging markets, has announced the winners of the 2016 $7-million Access Co-Development Facility (ACF), a financial support mechanism for renewable energy projects in Africa.
Three projects from Nigeria, Madagascar, and Sierra Leone, fought off fierce competition from almost 100 entries to win a share of $7-million prize. The prize also includes a package of technical support designed to bring their renewable energy projects to life.
The winners are AGES PLC (25MW solar project in Sierra Leone), Mentach Energy (50MW wind project in Nigeria), and Stucky Ltd (25MW hydro and solar project in Madagascar). Collectively, the projects will deliver 100MW of electricity to 340 000 homes.
The winners were announced in London at the 18th annual Africa Energy Forum, following a presentation by five shortlisted developers to a panel of expert judges. The judges selected the three winners based on commercial, technical and environmental merits, as well as the local regulatory environment, and capability of the project team.
Reda El Chaar, executive chairman of Access Power, says: “I am delighted to congratulate today’s well-deserved winners and we look forward to working with each of them to provide the technical skills, expertise and financing to get their projects across the finish line.
“There is still a massive, urgent need for electrification in Africa and we firmly believe that renewable energy will be a significant part of the solution. This year’s ACF competition introduced us to almost 100 projects, demonstrating the scale of entrepreneurialism and ambition across the African continent to meet the electrification challenge.”