ADVERTISEMENT

Three startups selected for $7 million renewable energy fund

Out of almost 100 entries, three projects from Nigeria, Madagascar, and Sierra Leone emerged as winners of the $7 million prize money

Solar panels in Portugal

According to Disrupt Africa, Access Power, earlier in the year, had kicked off applications for the second Access Co-Development Facility, a financial support mechanism for  renewable energy projects in Africa.

Out of almost 100 entries, three projects from Nigeria, Madagascar, and Sierra Leone emerged as winners of the $7 million prize money, as well as technical support designed to bring their renewable energy projects to life.

Ages Plc., a 25MW solar project in Sierra Leone; Mentach Energy, a 50MW wind project in Nigeria; and Stucky Ltd, a 25MW hydro and solar project in Madagascar; are the selected winners. Together, they will deliver 100MW of electricity to 340,000 homes.

ADVERTISEMENT

“I am delighted to congratulate today’s well-deserved winners and we look forward to working with each of them to provide the technical skills, expertise and financing to get their projects across the finish line,” said executive chairman of Access Power, Reda El Chaar.

“There is still a massive, urgent need for electrification in Africa and we firmly believe that renewable energy will be a significant part of the solution. This year’s ACF competition introduced us to almost 100 projects, demonstrating the scale of entrepreneurialism and ambition across the African continent to meet the electrification challenge.”

The winners were revealed in London at the annual Africa Energy Forum, after five shortlisted developers pitched to a panel of experts. The experts then decided the winners based on commercial, technical, and environmental merits, in addition to local regulatory conditions and capability of the project team.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Obama, Clinton support Biden at NYC fundraiser amid protests

Obama, Clinton support Biden at NYC fundraiser amid protests

Tinubu’s refusal to celebrate 72nd birthday marks great leadership - Rahman

Tinubu’s refusal to celebrate 72nd birthday marks great leadership - Rahman

Adamawa Police reaffirms ban on motorcycles in Yola

Adamawa Police reaffirms ban on motorcycles in Yola

You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72

You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72

170 electrical vandalism cases in 2 years, 100 charged to court - EEDC

170 electrical vandalism cases in 2 years, 100 charged to court - EEDC

Tinubu appoints Bello as chairman of code of conduct bureau

Tinubu appoints Bello as chairman of code of conduct bureau

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT