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Entries for African and Asian renewable energy project competition extend to May 23rd 2018

DUBAI, UNITED ARAB EMIRATES [02 May 2018]: Access Power, a developer, owner and operator of power projects in emerging markets, today announced the extension to the deadline to May 23rd for applications to the Access Co-Development Facility (ACF) 2018 competition, the fourth edition of the Company’s funding and support platform for renewable energy projects in Africa and Asia, which opened in March 2018.For the fourth year Access has include Asia for energy projects and invite entrepreneurs across both Africa and Asia to compete during the 20th Anniversary of the Africa Asia Forum in Mauritius.

Renewable energy developers now have additional grace of two weeks to submit their applications for a chance to win US$7million in ACF prize funding. Now in its fourth 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 2018 will be announced during a live final evaluation panel on June 19th 2018 during the Africa Energy Forum in Mauritius. This year’s finalists will once again be evaluated and scored by an independent panel of industry experts comprised of senior representatives from 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 top three finalists will subsequently enter into 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.

The ACF 2018 application form and guidelines are available on Access Power website

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