Electrification gains a new boost with the launch of the Africa Power Access Accelerator
The Africa Power Access Accelerator brings together top tier partners to support the development of power projects in Africa, with first application window closing on the 31st March 2019.
Nairobi, Kenya (January 18, 2019) – 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.
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 and Project Financing.
The Africa Power Access Accelerator (APAA) program by the African Power Platform (APP) bridges the existing gap between project developers and consultants / technology providers / financiers.
According to Jorge Lascas, Program Director for the APAA, “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 first application window is now open with deadline in the 31st March 2019.
About African Power Platform:
The African Power Platform aims to connect private and government stakeholders in Africa’s power sector. The platform helps circulate and propagate tenders, intelligence and business opportunities to its members. Developers, power producers, ministries, utilities, regulators, financiers, and other like-minded individuals can join APP to share possible solutions and ideas on how to solve Africa’s lack of electricity.