Access Infra Africa (‘Access’), a developer, owner and operator of power assets in Africa, today announced the 50 MW Abiba Solar Power project based in Kaduna state, among the four finalists of the Access Co-Development Fund (‘ACF’).

The fund is a US$ 5 million competition launched in April 2015 to bridge the gap between early stage African renewable energy projects and the expertise and funding they require to become operational.

The three other finalists are Flatbush Solar, with a 20 MW solar project in Cameroon, ADA Solar Energy, with a 20 MW solar project in Ghana and Wagonanze Investments, with a 10 MW solar project in Tanzania.

The ABIBA Project is a 50MW on-grid solar utility plant currently being developed and 100 per cent owned by Quaint Global Energy Solutions Nigeria Limited, an affiliate of Quaint energy USA. It is part of the “greenfield” power initiative needed to close the enormous deficit in electricity supply in Nigeria. The solar plant is to be situated on 150 hectares property on the Manchok Ranch in Manchok, Kaduna State.

The inaugural ACF received 55 submissions from project originators in 18 countries across Africa, including Cameroon, Kenya, Nigeria, South Africa, Morocco, Ghana, Rwanda and Tanzania. The submissions covered a range of renewable energy technologies including solar, wind, hydro, hybrid and bio-mass.

Having reviewed all submissions, Access short-listed four projects to contest the final round of the ACF at a live session on the main stage of the Africa Energy Forum (‘AEF’) at 2 pm on Thursday 11th June 2015.

According to a statement issued in Dubai today, the winning project(s) will enter into a Joint Development Agreement with Access.

Under this agreement, Access will take an equity stake in the winning project(s) and fund third party development costs such as feasibility studies, grid studies, environmental and social impact assessments and other due diligence fees. Access will also support the winner(s) with technical support, financial structure and development process management.

At the AEF, the finalists will present their projects to an expert panel of judges.

The judges are Stephane Bontemps, Managing Director, Access Power MEA, who will serve as Moderator, Bertrand Heysch de la Borde, Head of Africa for Infrastructure, International Finance Corporation,Paul Biggs, Lead Partner, Trinity LLP, Aart Mulder, Manager Energy Project Finance, FMO and Emmanuelle Matz, Head of Infrastructure & Mining Division, PROPARCO

Reda El Chaar, Chairman of Access Power MEA, said: “The submission of 55 projects in less than two months far exceeded our expectations and we are looking forward to an exciting conclusion at the Africa Energy Forum in Dubai. This fantastic response clearly demonstrates the significant potential of renewable energy to support economic growth and development across Africa, from Cape Verde to Kenya, and from Morocco to South Africa.

“It is not only funding that is critical to the success of early stage projects, but also technical support and guidance from experienced partners. We designed the ACF to help bridge this gap, and we are confident it will have a positive impact, not only this year but also in future years as the competition grows,” he added.