30MW Tanzania solar project wins Access Power’s US$7 million ACF competition

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Winners will also be able to leverage Access Power's financial and technical knowledge and the company's network, as well as the US$7 million. Source: Access Power

A 30MW solar PV project in Tanzania is one of the winners of Access Power’s US$7 million Access Co-Development Facility (ACF).

All three winners were announced at this year’s Africa Energy Forum (AEF). Whilst solar dominated the winner’s shortlist with three out of the five finalists being solar projects, it was the 30MW Kondoa PV project that secured financing, alongside the 48MW Winneba wind project in Ghana and Rwanda’s 9.7MW Rukarara hydro project.

The funding is jointly from emerging market developer, owner and operator Access Power and global independent power producer (IPP) EREN Renwable Energy.

The panel based their final selection on the commercial, technical and environmental merits of the projects presented, as well as the local regulatory environment and capability of the project teams. The winners will share the US$7 million provided by the ACF as well as technical support and expertise. The winning projects will now enter into Joint Development Agreements (JDA) with Access Power, who will take an equity stake.

When completed, the projects will collectively provide over 85MW of electricity, enough to power more than 420,000 homes and business across Tanzania, Rwanda and Ghana.

“We are very excited to begin working with today's winners in partnership with EREN and help bring their projects to fruition,” said Reda El Chaar, executive chairman of Access Power at the winners’ announcement. “Each of these projects has the power to dramatically improve the lives of the communities around these renewable energy facilities.

“By partnering with us, these local entrepreneurs will gain access to not only our pot of US$7 million but also our network of contacts and technical experts, underlining the unique nature of the ACF in creating a clear route to market.”

Read Next

January 26, 2022
Shares in ‘Solar Module Super League’ (SMSL) member JinkoSolar’s operating subsidiary surged on the company’s Shanghai stock market debut, closing at more than double their listing price.
PV Tech Premium
January 25, 2022
European solar power purchase agreement (PPA) prices can be expected to level off this year following a turbulent end to 2021 as the market undergoes a shift in the balance of power to the seller side.
January 24, 2022
The year has gotten off to a frenetic start, with plenty of news from the global solar and energy storage sectors to digest on the January 2022 episode of the Solar Media Podcast.
January 21, 2022
US solar installer SunPower is to be hit by a cracking issue discovered in connectors associated with equipment installed in some commercial and industrial (C&I) projects, resulting in charges of around US$31 million.
January 20, 2022
Independent power producer (IPP) Cordelio Power has secured a 900MWac pipeline of solar projects in New York and Pennsylvania from project developer SunEast Renewables.
PV Tech Premium
January 18, 2022
Solar project developer Eco Energy World is aiming to “aggressively” grow its US PV pipeline after formally entering the market last week and intends to replicate the cheaper engineering, procurement and construction (EPC) costs it sees in Europe in the country. PV Tech Premium speaks to CEO Svante Kumlin to find out more.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal
Solar Media Events
April 25, 2022
Berlin, Germany