Access Infra Africa (Access), a company providing power and water infrastructure in Africa, has announced that four startups focusing on solar will compete for its $5 million funding competition, Access Co-Development Fund (ACF), Disrupt Africa reports.
The announcement was made today in Dubai at the Africa Energy Forum 2015 (AEF).
The startups are Quaint Global Energy Solutions from Nigeria, Flatbush Solar (Cameroon), ADA Solar Energy (Ghana) and Wagonanze Investments (Tanzania).
The competition is designed to bridge the gap between early-stage renewable energy projects on the African continent and expertise/funding.
“It is not only funding that is critical to the success of early stage projects, but also technical support and guidance from experienced partners.,” Reda El Chaar, chairman of Access Power MEA said in the report by Disrupt Africa.
Third-party development costs such as feasibility studies, grid studies, environmental and social impact assessment (EIA) will be provided by Access. The company will also take an equity stake in the winner of the competition and proffer technical and management support.
Image: Imgbuddy
