Numerous power projects and investments have been springing up across Africa, the hallmark of which was at the 2014 Power Africa summit where political and business leaders of the continent gathered in Washington with their counterparts in the United States of America to strike business deals geared towards overcoming Africa’s power challenges. El Chaar explained that while Africa’s energy sector and the wider economy could be transformed by the billions of dollars of financing available for Africa, such investments cannot have an impact without well-resourced and experienced developers willing to take early-stage project risk and turn good concepts into bankable projects.
On 4th January 2015, the Access Infra Africa consortium was prequalified by Egypt’s Ministry of Electricity to develop large scale wind and solar power plants as part of the first round of Egypt’s renewable energy procurement program. In December 2014, Access was awarded the contract to build, own and operate the first solar power plant in Uganda, a 10 MWp solar photovoltaic facility in Soroti, Northeastern Uganda. Once complete, the plant will be the second largest privately owned solar PV project in Africa excluding South Africa.
Via Ventures Africa | Africa Gets Largest Privately Funded Renewable Energy Company.