Lagos-based wind power project, others win $7 million renewable energy prize

24 Jun 2016, 12:00 am
Financial Nigeria

Summary

Mentach Energy's wind project in Nigeria, Ages' solar project in Sierra Leone, Stucky's hydro & solar project in Madagascar will deliver 100MW of electricity.

The winners: Ages (Sierra Leone): Albert Smith and Joachim ‎Baumgaertner; Menatach (Nigeria): Rayan Kassis; Stucky (Madagascar): Antoine Dubas

Access Power, a Dubai-based renewable energy company, said on Friday that Mentach Energy, a Lagos-based wind power developer, is among three winners of the 2016 Access Co-Development Facility (ACF).

The ACF is a $7 million facility for renewable energy projects in Africa that seeks to bridge the gap between early-stage renewable energy projects and the resources – particularly funding and technical expertise – they require to become operational.

Access Power said Mentach Energy, which seeks to develop a 50MW wind power project in Nigeria, will share the $7 million prize money with Ages Plc (a 25MW solar project in Sierra Leone), and Stucky Limited (25MW hydro and solar project in Madagascar). When completed, these three projects will collectively deliver 100 megawatts of electricity to 340,000 homes.

“I am delighted to congratulate today’s well-deserved winners and we look forward to working with each of them to provide the technical skills, expertise and financing to get their projects across the finish line,” said Reda El Chaar, Executive Chairman of Access Power. “There is still a massive, urgent need for electrification in Africa and we firmly believe that renewable energy will be a significant part of the solution. This year’s ACF competition introduced us to almost 100 projects, demonstrating the scale of entrepreneurialism and ambition across the African continent to meet the electrification challenge.”

The three winners were announced in London during the 18th annual Africa Energy Forum, which held from June 21 to 24th, following a presentation by five shortlisted developers to a panel of expert judges. The judges selected the three winners based on commercial, technical, and environmental merits, as well as the local regulatory environment, and capability of the project team.

Last year, Quaint Global Energy Solutions, developers of the 50MW ABIBA solar project in Kaduna State, was selected among the three winners of the 2015 ACF. When completed, the ABIBA solar power plant will generate enough clean electricity to satisfy the daytime requirement of over 600,000 households.


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