Access Power announces the ACF Competition; Winners to walk away with $75 million

Access Power announces the ACF Competition; Winners to walk away with $75 million

Calling out to all renewable energy innovators and inventors, Access Power one of the leading operators of power projects in emerging market, has announced submissions to its Access Co-Development Facility (ACF) is open. The competition is taking in innovative ideas submission within the renewable energy space in Africa.

Renewable energy developers in Africa with the most impressive submission stand a chance to secure funding from the ACF competition; in addition to getting technical experience and training on local power projects.

A panel of expert judges will pick out a few applicants from the rest of the applications received based on criteria like commercial, technical, and environmental viability of the submissions. They will also consider the local regulatory environment and the team’s capability.

The winners who will walk home with $7 million and will be announced before a live audience at the Africa Energy Forum in London on June 22nd, 2016.

Nasir Aku, the ACF Program Manager at Access Power, said, “Through this unique facility, we hope to encourage innovation and support companies in their efforts to deliver power to places that desperately need it.”

Winners of the competition will enter into a Joint Development Agreement with Access Power, with the winners giving up some equity stake and fund other third-party development costs like the feasibility studies, due diligence, grid studies, environment and social impact assessments fees.

Other than the cash prize, Access Power will also give the winners the technical support, development process management, and financial structuring.

If you are an innovator/inventor within the renewable energy space in Africa, and would like to participate in this competition. Click here to download the ACF Application Form and apply for the competition on or before May 20, 2016. You should also check out the ACF Application Guidelines to act as your guide in the application process.

Access Power through this ACF competition is leading the way by demonstrating and supporting the use of renewable energy to meet Africa’s urgent and massive need for electrification. The organization was founded back in 2012. It wants to become the leading developer, operator, and owner of power assets across Africa and the Middle East.

Related posts

How Small Business Funding has Changed in the Past Year

Equity Crowdfunding Platform Raises over R6m for Two Businesses in 6 weeks

4 Ways a Loan Will Help a Small Business Have a Successful Holiday Season