The three winning projects, hailing
from Tanzania, Rwanda and Ghana, were selected from a technologically and
geographically diverse pool of 82 entrants from 23 countries after having
presented to a live panel of industry expert judges.
The panel based their final
selection on the commercial, technical and environmental merits of the projects
presented, as well as the local regulatory environment and capability of the
project teams.
The winners will share the US$7
million pot provided by the Access Co-Development Facility as well as technical
support and expertise.
Ghana will work on a 48MW wind project
at Winneba, whilst Tanzania develops a 30MW Solar PV project at Kondoa and
Rwanda on a 9.7MW hydro project at Rukarara.
When
completed, the projects will collectively provide over 85MW of electricity,
enough to power more than 420,000 homes and business across Tanzania, Rwanda
and Ghana. The winners were announced today in Copenhagen at the 19th
annual Africa Energy Forum, following a presentation by the five shortlisted
developers to a panel of expert judges.
The projects
are spearheaded by Access Power, a developer,
owner and operator of renewable power projects in emerging markets in
partnership with EREN Renewable Energy, a global independent power producer.
“We are
very excited to begin working with today’s winners in partnership with EREN and
help bring their projects to fruition. Each of these projects has the power to
dramatically improve the lives of the communities around these renewable energy
facilities,” said Reda El Chaar,
Executive Chairman of Access Power.
“By partnering with us, these local entrepreneurs will gain access to not only our pot of $7 million but also our network of contacts and technical experts, underlining the unique nature of the ACF in creating a clear route to market.”
The winning projects will now enter into Joint Development Agreements with Access Power, who will take an equity stake. Winners will also be able to leverage Access Power’s organisational, financial and technical knowledge, as well as access to our network. They will also receive assistance with the funding of third-party development costs including feasibility studies, grid studies, environmental and social impact assessments and due diligence fees.
This year’s competition was notable for the dominance of solar, with just under half of this year’s entries and three of the five shortlisted projects falling under the category, but also for the high number of applications from countries with low levels of electrification.
“By partnering with us, these local entrepreneurs will gain access to not only our pot of $7 million but also our network of contacts and technical experts, underlining the unique nature of the ACF in creating a clear route to market.”
The winning projects will now enter into Joint Development Agreements with Access Power, who will take an equity stake. Winners will also be able to leverage Access Power’s organisational, financial and technical knowledge, as well as access to our network. They will also receive assistance with the funding of third-party development costs including feasibility studies, grid studies, environmental and social impact assessments and due diligence fees.
This year’s competition was notable for the dominance of solar, with just under half of this year’s entries and three of the five shortlisted projects falling under the category, but also for the high number of applications from countries with low levels of electrification.
Of the 23
countries represented in this year’s edition, 18 have electrification rates below
30%.
This
year’s application process also further highlighted the rise of East and West
Africa as hotspots for renewable energy development, with nearly 80% of all
applicants hailing from both sides of the continent.
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