SEFA opens competition for West African clean energy entrepreneurs
The Sustainable Energy Fund for Africa (SEFA) has launched a business plan competition to identify entrepreneurs and unlock renewable energy and energy efficiency investments in West Africa.
It calls the competition ‘West Africa Forum for Clean Energy Financing’ (WAFCEF/the Forum).
SEFA, in a statement, said the competition is open to all businesses and entrepreneurs operating and registered in any of the ECOWAS countries as well as foreign individuals and entities with projects in those countries.
It added that for projects to be considered, it should be in the range of $1 million to $50 million, and should “reasonably demonstrate commercial and technical viability”.
According to SEFA, projects selected for a shortlist will attend a project development and financing workshop and will receive free individual professional mentoring on further development of their business plans.
SEFA indicated that five to ten qualified project sponsors will have the opportunity to present their business plans to invited investors and make a pitch for financing at the WAFCEF which will be held in Accra, Ghana early October 2013.
The Forum will end with the selection of three top projects for the West African Clean Energy Financing Awards.
The competition is supported by the ECOWAS and the US Agency for International Development (USAID).
By Ekow Quandzie