$500 million investment vehicle for African RE

In what the founders claim will be the largest privately funded investment vehicle for African renewable energy projects, Access Infra Africa will be looking to support early stage renewable power projects on the continent.

Renewable developer EREN De?veloppement and Access Power MEA are the two firms behind the Access Infra Africa, with the companies drawing on their respective strengths in renewable energy projects and MENA/African power plant projects.

“Access Infra Africa perfectly illustrates EREN’s strategy of developing renewable projects in areas of the world where renewable energy represents a competitive answer to growing local energy needs, such as Africa,” said EREN CEO David Corchia. EREN De?veloppement was has funded and installed over 400 MW of renewable projects and claims to have a pipeline of 1.5 GW under development.

“Africa’s energy sector and wider economy could be transformed by the billions of dollars of financing available for Africa,” said Access Power MEA chairman El Chaar. “However, this funding cannot have an impact without well-resourced and experienced developers willing to take early-stage project risk and turn good concepts into bankable projects.” Access has its headquarters in Dubai, in the United Arab Emirates.

Access Infra Africa claims to have qualified for Egypt’s wind and solar project tender earlier this month. Access Power MEA has been awarded the contract to build a 10 MP PV power plant in Uganda.