Thursday, 5 May 2016

US$7 Million Prize to Fund African Renewable Energy Projects

US$7 Million Prize to Fund African Renewable Energy ProjectsCalling all entrepreneurs and developers of renewable energy projects in Africa
•    Just three weeks left for entrepreneurs to enter the ACF competition which will see developers across the continent compete for funding and expertise
•    Calling all entrepreneurs and developers of renewable energy projects in Africa
Access Power, a developer, owner and operator of power projects in emerging markets, today kicked off the countdown for applications to the ACF 2016, the second edition of its successful Access Co-Development Facility (ACF) for renewable energy projects in Africa.


Renewable energy developers have less than one month left to submit their applications for a chance to win US$7million in ACF prize funding. The deadline for applications is the 20st May 2016.


ACF 2016 is a competition dedicated to finding local power project developers with credible renewable energy projects in Africa who need access to funding, technical experience, and expertise to bring their plans to life.


Following the competition’s successful launch last year, the ACF increased its funding from US$5m in 2015 to US$7m for this year’s winners.  Up to three successful projects will be selected by a panel of expert judges whose decision will be based on commercial, technical and environmental merits, the local regulatory environment, and capability of the project team.


The winners of ACF 2016 will be announced on Tuesday 22nd June 2016 before a live audience during the Africa Energy Forum in London (http://www.Africa-Energy-Forum.com) (see Notes to Editors for further details). The winners will enter a Joint Development Agreement with Access Power, which will take an equity stake in the winning projects and fund third-party development costs such as feasibility studies, grid studies, environmental and social impact assessments and due diligence fees.  Access Power will also provide technical support, financial structuring and development process management. Read more....

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