Phanes Group, an integrated end-to-end solar provider headquartered in Dubai, has launched its first Solar Incubator programme aimed at identifying PV projects of potential in sub-Saharan Africa by providing access to funding and commercial and technical knowledge.
The initiative, ‘The PV Solar Incubator, Your Project, Our Expertise, For a Sustainable Future,’ will be held in partnership with Hogan Lovells, Proparco, responsibility, RINA Consulting and Solarplaza.
It invites PV developers to submit proposals for projects that are based in sub-Saharan Africa, and have a clear Corporate Social Responsibility (CSR) component.
Candidates are asked to submit their proposals by October 1, 2017 via Phanes Group’s website.
Shortlisted persons will be invited to pitch their projects to an expert panel that comprises the incubator’s partner organizations at Solarplaza’s “Unlocking Solar Capital Africa” conference in Côte d’Ivoire, October 25 – 26, where the industry’s biggest players will hold extensive discussions about solutions for Africa’s solar energy funding gap.
It comes as part of Phanes Group’s core strategy to collaborate with Africa-focused counterparties, such as local project owners, governments and developers on projects that seek to create a sustainable future for urban and rural communities across the sub-Saharan region.
“Clean energy has the potential to transform sub-Saharan Africa for years to come, but successfully implemented PV solar projects require a diverse mix of expertise and knowledge to bring them to financial close,” said Martin Haupts, Chief Executive Officer (CEO) of Phanes Group.
Christopher Cross of law firm Hogan Lovells, who will be part of the evaluation panel at the event, said: “We are both honoured and excited to be invited to take part in an on-the-ground initiative such as this. The Solar Incubator seeks to foster both local innovation and investment to bring potential opportunities to fruition for the social and economic benefits of the region and its people.”
There are currently more than 620 million people in sub-Saharan Africa living without electricity, according to the International Energy Agency (IEA), which works to ensure global access to reliable, affordable and clean energy.
After the winning projects have been announced at the ‘Unlocking Solar Capital Africa’ event, the developers will be invited to join Phanes Group for an intensive four-day workshop at its headquarters in Dubai, UAE.
This will help lay the foundation for delivering a bankable and sustainable project.