Access Infra Africa (AIA) has been born out of a partnership between Dubai’s Access Power MEA and global renewable energy firm, EREN.
Access Infra Africa is the continent’s ‘largest privately funded vehicle’ looking to develop a renewable portfolio worth $500 million.
EREN Development chief executive officer, David Corchia told Ventures Africa, ‘Access InFRA Africa perfectly illustrates EREN’s strategy of developing renewable projects in the areas of the world where renewable energy represents a competitive answer to growing local energy needs, such as Africa.’
Reda El Chaar, chairman of Access explained that the right expertise is needed to realise the full potential of the investments worth billions being invested in Africa’s energy sector. He said that developers need to be willing to take the early risks and have the ability to ‘turn good concepts into bankable projects’.
AIA is already in the running for the development of a large scale wind farm and solar plants at part of Egypt’s first round in its renewable energy procurement programme – an initiative of Egypt’s Ministry of Electricity. It was also start construction on the first solar power plant – a 10MWp PV facility in Northeastern Uganda.