The Incubator Programme, dubbed the ‘Umoja Incubator’, invites aspiring developers in the renewable energy industry who have big ideas but lack the experience or financial capabilities to submit their proposals to the Serengeti initiative. The submitted proposals will be evaluated by the jury between June and September 2022. The winning project(s) will enter a partnership with Serengeti Energy. Our goal is to give them the tools needed to succeed and positively impact their communities and these include access to commercial and technical knowledge, and eventually funding.
In sub-Saharan Africa, there is a significant opportunity to invest in renewable energy. Even though Africa has a huge potential for renewable energy and many local developers have already found ideal locations, substantial project development is hampered by a lack of knowledge or funding. By connecting great early-stage renewable energy projects with access to development financing, the Umoja Incubator tackles this issue. Serengeti Energy has a proven track record of developing and bringing renewable energy projects to markets, as well as a strong ground presence and market expertise. In order to hasten the construction of renewable energy projects, the Private Financing Advice Network has provided advisory services.
Benefits
- The opportunity to engage with The Private Financing Advisory Network has been supporting renewable energy developers with advisory services to speed up their development.
Eligibilities
- The application is open to any company with projects in sub-Saharan Africa.
- Be submitted by its owner(s) or (jointly “owners”) or by its/their representatives
- Be located in sub-Saharan Africa (SSA)
- Not be located in a protected area as defined by IFC Performance Standard 6 and IUCN
- Use renewable energy technology (wind, solar and hydro only) with a size between 3MW-50MW and limited to a maximum of 25MW for hydro power projects
- Have passed the “idea stage” and at a minimum an MOU or EOI
- Have a viable offtake strategy and be located in a country with policies and regulations allowing IPPs
- Up to 30MW for hydro with little or small community impact as possible
