Five energy projects have been shortlisted for this year’s $7million Access Co-Development Facility (ACF).
The projects have been selected from 96 applications based in Niger, Nigeria, Kenya, Madagascar and Sierra Leone.
Each of those shortlisted will go before a panel of judges for their chance to win the share of a $7million prize.
The shortlisted projects include a 20MW solar project in Niger, a 25MW solar project in Sierra Leone and a 50MW wind project in Nigeria.
AFC 2016 is a competition designed to provide local power project developers and originators in Africa with the technical expereince, expertise and funding required to bring their renewable energy projects to life.
This year’s event saw an increase in applications by 75%.
Nasir Aku, ACF program manager for ACF 2016 at Access Power, said:“It is our mission to help renewable energy projects access the finance and expertise they need to deliver power to those who need it. To fulfil this mission, we need to find strong, viable projects to support and we are thrilled to see so many entering the ACF this year.
“Choosing a shortlist of just five projects was incredibly tough. However, the volume and standard of project proposals is exciting in itself. It demonstrates the growing sophistication of the renewable energy landscape across the continent which will help meet Africa’s massive and urgent need for electrification. More broadly speaking, this progress represents a significant opportunity for investors with a strong appetite to invest in renewable projects in emerging markets.
“This year’s successful competition has truly elevated the ACF’s status as a functional and credible crowdsourcing origination platform for the African continent, working to bridge the gap between the resources available for power projects in Africa, and the initiatives that really need them.”
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