Africa solar projects of 100 MW compete for USD-5m Access grant

Solar projects in Nigeria, Cameroon, Ghana and Tanzania with a combined capacity of 100 MW will compete for USD 5 million (EUR 4.4m) in funding from the Access Co-Development Fund (ACF).

Private investment firm Access Infra Africa announced the four finalists on Tuesday. Apart from the financial support, the winner/s will also receive technical support from Access and benefit from the latter’s expertise when it comes to the financial structure and development process management.

Details on the solar projects shortlisted for the final round of the ACF contest, to take place on June 11, are available in the table.

The winning project/s will sign a joint development agreement with Access, under which the company will acquire an equity stake in the project/s and finance third party development costs such as feasibility studies, grid studies, environmental and social impact assessments and other due diligence fees.

The USD-5-million ACF competition aims to provide the expertise and funding needed to turn early stage African renewable energy projects into operational power plants. It attracted 55 submissions in less than two months from 18 countries in Africa across various renewable energy technologies, including solar, wind, hydro and biomass.

(USD 1 = EUR 0.883)

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