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Swedish And African Institution Launch Competition To Provide Zim Private Sector With $6.5 Million For Renewable Energy Tech Solutions

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Among the most significant challenges facing society today is trying to figure out how to increase energy whilst guarding the risk of global warming. Only through wind power, hydroelectric power, or solar power can the balance be achieved.

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By some estimates, it is said as much as 510 million sub-Saharan Africans are not electrified at the moment and the chances of meeting the growing demand, given the current trend, are not forceable. It seems that normal solutions (non-renewable energy) of providing energy to unserved Africans are failing to deliver the amount of energy needed. So the solution is undoubtedly renewable energy.

In order to make the transition to renewable energy possible, technology is the key factor in successfully managing the process of converting these alternative energy sources and delivering the energy. The more advanced the technology becomes, the cheaper (affordable), more efficient and attractive renewable energy is for many Africans.

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AECF is trying to promote these kinds of technologies by supporting the private sector both financially and technically to generate and deliver renewable energy in Africa. The AECF is a development institution which supports businesses to innovate, create jobs, leverage investments and markets in an effort to create resilience and sustainable incomes in rural and marginalized communities in Africa.

One way AECF is supporting the private sector to deliver renewable energy solutions is through the REACT SSA program.

About REACT SSA

The Renewable Energy& Adaptation to Climate Technologies sub-Saharan Africa (REACT SSA) provide a solution to the current situation of expensive non- renewable energy. REACT SSA is a US $61 million program funded by the Swedish International Development Agency (Sida) and managed by The AECF.

The REACT SSA competition in Zimbabwe, which was launched yesterday, seeks to catalyze private sector investment to increase the supply of cleaner fuels, raise awareness of indoor air pollution and provide evidence on policy formulation and implementation challenges. The competition also seeks to demonstrate how knowledge of renewable energy technologies can be put into practice in ways that benefit the poor, especially women.

How much is up for grabs

US $6.5 million has been dedicated to Zimbabwe to fund businesses in the renewable energy market within the country.

Funding for each organization: US $ 100,000 to 1.5 million

The amount of funding that the AECF can award to a single business is between US $100,000 and US$ 1.5 million, although this amount may vary.

Eligibility of a business

You must meet the following criteria for your application to be considered (see term sheet for more details):

  • Your company is a private sector for-profit enterprise aligned with the funding focus areas and target technologies.
  • Your company must be legally registered and physically established in Zimbabwe by the time of contracting.
  • Your project idea will be implemented in Zimbabwe.
  • Total grant funds requested from AECF must be between US$250,000 and US$1,500,000.
  • Your company (including 3rd parties such as co-investors or banks and other lenders) is providing at least 50% of the requested funds from AECF. Up to 25% of the matching funds may be in kind. Examples of acceptable in-kind contributions can include sweat equity; allocations of stock; or existing machinery and equipment  allocated for use in the proposed project.
  • The project must deliver low cost, affordable, quality clean energy products and services that benefit the rural, peri urban poor (especially women).
  • You must demonstrate that the project will contribute to environmental sustainability, including environmental and climate change aspects.
  • Your company must be compliant with fundamental in country and international human rights, labour standards, environmental management laws.
  • Your company must NOT be involved in any act of terrorism or support terrorists’ activities
  • Your company must allow regular due diligence by AECF.

Deadline

12 October 2018

Where to enter the competition

Follow this link or visit https://aecf.submittable.com/submit

Contact

react@aecfafrica.org

Zimbabwe

The Republic of Zimbabwe is a country located in the Southern Africa region. Its capital city is :Harare and the country has 10 provinces. Zimbabwe is 390,580 sq km and is bordered on all sides by other countries (Zambia in the north, South Africa in... Read More About Zimbabwe