Access Infra Africa (Access), a developer and operator of power assets in Africa has launched the Africa Co-Development Fund (ACF), a US$5m competition designed to bring together the early stage renewable projects, expertise and funding required for startups to operate across Africa.
Entries into this contest started April 1 and will span through May 20, after which about five projects will be shortlisted into ACF’s final round of screening by panel of experts, from June 8 to 11, during the 2015 edition of Africa Energy Forum (AEF) in Dubai, United Arab Emirates.
“The inaugural ACF will be an exciting feature of this year’s Africa Energy Forum and we are confident that the ACF will develop in subsequent years into a platform that attracts early stage funding from Development Financing Institutions, International Financing Institutions and various donor organizations,” said , Chairman of Access PowerMEA.
The winning project(s) will enter into a Joint Development Agreement with Access, where Access will take an equity stake and fund third party development costs related to the project, such as the feasibility studies, grid studies, environmental and social impact assessments and other due diligence fees. Access will also provide technical support, financial structuring and development management to aid the successful projects.
Project originators and developers interested can apply here or visit the AEF 2015 website for more information on the application process.
