Access Power, a developer, owner and operator of power projects in emerging markets and a Power Africa partner, recently announced the launch of ACF 2017, the third edition of the highly successful funding and support platform for renewable energy projects in Africa. The official opening of the submissions process was announced at the Power Africa Annual Partners Meeting in Washington, D.C.
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.
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.
Power Africa is a unique, private sector-driven effort that brings together over 140 private sector companies, many U.S. Government agencies, global development partners (e.g., the World Bank Group and the African Development Bank), and African governments that are committed to accelerating and stimulating further power sector investment. Power Africa aims to add more than 30,000 megawatts of cleaner, more efficient electricity generation capacity, as well as increase electricity access by adding 60 million new home and business connections throughout all of sub-Saharan Africa.
To learn more about Power Africa and the Roadmap to meet these ambitious goals, please visit: www.USAID.gov/powerafrica/roadmap.