Access, FMO solar competition to award $100,000
The competition gives participants a chance to win $100,000 grant for development of solar PV power project, while the winning project will pre-qualify for $5mn Access Co-Development Facility (ACF 2016)
Access Power MEA, a developer, owner and operator of power assets in the Middle East and Africa, and FMO, a Dutch development bank, have announced the launch of the Access Power-FMO Solar Shark Tank Competition.
The initiative is aimed at helping local solar power developers in Asia, Africa and Latin America that require development support to make their solar projects more financially viable.
In order to be considered for the grant, the projects must be located in Asia, Africa or Latin America and be based on solar PV technology. They should also meet the capacity criterion of between 5MW and 50MW, and be at an advanced stage of development (preliminary feasibility studies should be completed).
Proposals will be screened and scored by a pre-selection committee assembled by Access and FMO. Four shortlisted finalists will be invited to present their projects and answer questions from a panel of judges in front of a live audience on the 18th of February 2016 during the Making Solar Bankable conference in Amsterdam, Netherlands. The winning project will be announced at the end of the session during the event.
The winner will receive a $100,000 grant towards the development costs of their project from Access and FMO. On top of that, Access will also pre-qualify the winning proposal of Solar Shark Tank for the 2016 edition of the $5 million Access Co-Development Facility (ACF) competition, subject to meeting ACF qualification requirements.
Access will also provide the ACF winner with technical support, financial structuring and development process management.
55 projects from 18 countries entered ACF’s inaugural competition in 2015. The 2016 edition will be launched on the 18th of February 2016 in Amsterdam, with the plenary session taking place in London in June 2016.
Application closes on the 1st of February 2016.