The Access Co-Development Facility (ACF) is a prize fund managed by Access, a Dubai-based renewable energy developer, which is designed to support renewable energy projects in Africa.
Access says it received a record number of entries for the 2016 competition, which will see up to three winners selected to receive a share of the $7 million fund.
The five shortlisted projects are a 20 MW solar farm in Niger, a 25 MW solar project in Sierra Leone, a 50 MW wind farm in Nigeria, a 40 MW solar project in Kenya and a 25 MW hybrid hydropower and solar project in Madagascar.
Access said that the fund will help to provide local power project developers and originators in Africa with the technical experience, expertise and funding required to bring their renewable energy projects to life. The shortlisted projects will be assessed on the basis of their commercial, technical and environmental merits as well as the local regulatory environment, and capability of the project team.
Submissions for the 2016 ACF came from 25 different African countries, a 40 per cent annual uplift in the number of countries involved, with 95 per cent of the projects submitted coming from Sub-Saharan Africa, a key growth area for Access Power. In total, 44 per cent of the projects submitted came from the continent's least developed countries, in line with the company's stated intention to bring power to those in Africa who need it most.
"It is our mission to help renewable energy projects access the finance and expertise they need to deliver power to those who need it," said Nasir Aku, ACF Program Manager for ACF 2016 at Access Power. "To fulfil this mission, we need to find strong, viable projects to support and we are thrilled to see so many entering the ACF this year.
"Choosing a shortlist of just five projects was incredibly tough. However, the volume and standard of project proposals is exciting in itself. It demonstrates the growing sophistication of the renewable energy landscape across the continent, which will help meet Africa's massive and urgent need for electrification."
Access Power will announce winning projects in London in June.
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