The Africa Power Access Accelerator program has now been launched and is accepting applications for project development support (Technical Assistance and Financing).
Background
Improved access to modern energy services is one of the fastest ways to drive socioeconomic development and poverty alleviation. In many markets, electrification has largely been the domain of governments, but the rise of affordable, clean distributed generation technologies is opening new opportunities for the private sector and for public-private partnerships. Access to affordable and clean play a critical role in meeting the household and productive needs of the 600 million people that currently lack affordable, reliable electricity in Africa.
The Problem
Developing power projects and raising finance on the African continent has proven a difficult endeavour. There are multiple projects in different stages of development, most just a concept idea, some with certain level of studies produced but far from financial close.
They need support at all the key pillars of power project development:
- Project Preparation
- Project Structuring
- Project Financing
The Solution
The “Africa Power Access Accelerator” program by the African Power Platform (APP) bridges the existing gap between project developers and consultants / technology providers / financiers.
The APP brings in to this program the efforts of different stakeholders to partner for the successful implementation of power projects in Africa.
Bringing together the expertise of a range of partners, the “Africa Power Access Accelerator” program creates a platform where developers can access everything required to get their project to implementation. From development expertise and funding, equity and debt providers, consultants, technology and equipment providers to full EPC and O&M services, we put viable projects on a success track.
The “Africa Power Access Accelerator”
Technologies:
- Solar PV
- Hydro
- Wind
- Biomass
- Gas
- Storage
- Hybrid
Type:
- Utility
- Mini-Grids
- Solar Home Systems
Maturity:
- Initial Concept
- Pre-Feasibility
- Partial Feasibility
- Full Bankable Feasibility
- Financial Close
How it Works
- The developer applies through a brief form
- The APP assesses the viability and merit of the project
- For selected projects, an action plan is put in place towards implementation
Evaluation Criteria
What will be assessed for project selection:
- Support by local government
- Technologies deployed on the project
- Financial and technical viability
- Environmental and Social aspects
- Capabilities of the development team
- Community engagement
- Contribution to UN Sustainable Development Goals
Benefits for Developers
Developers applying to the “Africa Power Access Accelerator” may, if selected, get access to:
- Advisory
- Grants
- Development funding
- Equity / Debt financing
- Partners (Consultants / Equipment / Technology / Development)
- Co-developers
Program implementation (key dates)
Application:
- 1Q19 application window (Closes 31st March 2019)
- 2Q19 application window (Closes 30th June 2019)
- 3Q19 application window (Closes 30th September 2019)
- 4Q19 application window (Closes 31st December 2019)
Evaluation:
- Evaluation of projects submitted on 1Q19 (Closes 30th June 2019)
- Evaluation of projects submitted on 2Q19 (Closes 30th September 2019)
- Evaluation of projects submitted on 3Q19 (Closes 31st December 2019)
- Evaluation of projects submitted on 4Q19 (Closes 31st March 2020)
Support:
- Q3 2019: Starting the support for projects submitted on 1Q19
- Q4 2019: Starting the support for projects submitted on 2Q19
- Q1 2020: Starting the support for projects submitted on 3Q19
- Q2 2020: Starting the support for projects submitted on 4Q19
Application Fee
There is an application fee* to cover the due diligence process, based on the project maturity:
- Initial Concept: 0 USD (Free)
- Pre-Feasibility: 500 USD
- Partial Feasibility: 1,000 USD
- Full Bankable Feasibility: 1,500 USD
- Financial Close: 2,500 USD
* Application is free for African Power Platform members (1 project per member). Click here for joining if your company / organization is not yet a member.
To apply for the Africa Power Access Accelerator program please fill in the application form and submit by email to apaa@africanpowerplatform.org.
Further Information:
If you need support please contact us through apaa@africanpowerplatform.org.
Feel free to pass this information to interested parties.
