ACF 2017 is a financial support mechanism designed to provide local developers and entrepreneurs with the technical expertise and funding required to bring their renewable energy projects to life.
- The submission period runs from March to May 8, 2017.
- An independent judging panel will include industry and legal experts as well as representatives from multilateral development banks.
- Following a pre-selection process, a shortlist of applicants will be chosen to present their projects to a panel of judges at the Africa Energy Forum in Copenhagen, June 2017 (http://Africa-Energy-Forum.com).
- Applicants must present their projects to the judging panel during the Forum within a given time and take questions from panel members.
- Panel members will score each project based on the evaluation criteria, using weighted percentages.
- 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 structure and development process management.
Access Power, a developer, owner, and operator of power projects in emerging markets and a Power Africa partner has announced the launch of ACF 2017, the third edition of the highly successful funding and support platform for renewable energy projects in Africa. Now in its third year, the ACF is an innovative US$7 million financial support mechanism designed to provide local power project developers and originators with project development support, technical experience, expertise and funding required to bring their renewable energy projects to life.
ACF 2017 aims to further build on the success of the previous two years where a total of five projects passed the final round of selection and three projects successfully executed joint development agreements with Access Power. This year’s finalists will once again be evaluated and scored by an independent panel of industry experts comprised of senior representatives from Power Africa, InfraCo Africa, Proparco, the Dutch Development Bank (FMO) and Access Power who will provide Access Power with recommendations on the commercial, technical, social and environmental viability of each project based on a host of market, regulatory, environmental and economic factors.
The winners of ACF 2017 will be announced during a live final evaluation panel on June 7th, 2017 during the Africa Energy Forum in Copenhagen. The top three finalists will subsequently enter into direct Joint Development Agreement (JDA) discussions with Access Power. Once these are successfully concluded, Access Power will take an equity stake in those projects and commence independently funding their third-party development costs such as feasibility studies, grid studies, environmental and social impact assessments and due diligence fees.
DEADLINE: May 8, 2017