The Solar Incubator: Bridging the gap between development and bankability
3E’s regional manager, Juan Luis Agarrado (first from the left), participated in Phanes Group’s Third Solar Incubator evaluation panel during the ‘Unlocking Solar Capital Africa’ conference on 17 October 2019 in Dakar, Senegal.
The Solar Incubator
The Solar Incubator offers support and technical know-how to help entrepreneurs overcome obstacles to realize their projects. The goal is to give aspiring solar PV developers in sub-Saharan Africa the tools they need to succeed, including access to commercial and technical knowledge, and eventually funding. To be eligible, the projects need to show that they will make a positive impact on their community.
Winning project(s) are given the opportunity to enter into a partnership with the Phanes Group who will provide collaborative support in taking the project idea from concept – holding a long-term stake in the project – to financial close, starting with an incubator phase that includes an intensive workshop at the Phanes Group HQ in Dubai, UAE.
The role of 3E was at a first stage to review the shortlisted projects candidates from a technical perspective and then to participate in a knowledge-transfer session to raise the project to global standards to ensure project bankability.
Mr. Justin Nseya and his Congo Green Energy Project (2 x 50 MW) won the 3rd edition of the Solar Incubator thanks to his strong determination to successfully carry out his project despite a challenging market environment.
“It was an honour to represent 3E as a partner of the Solar Incubator evaluation panel. This definitively shows our company’s engagement toward the development of Renewable Energy within the region and its will to support this type of initiatives by closing the gap between development and bankable projects,” said Juan Luis after the announcement of the winner.