Phanes Group, an integrated end-to-end solar provider headquartered in Dubai, has launched its first Solar Incubator program, aimed at identifying PV projects of potential in sub-Saharan Africa by providing access to funding, and commercial and technical knowledge.<\/p>\n
The initiative, \u2018The PV Solar Incubator, Your Project, Our Expertise, For a Sustainable Future<\/em>,\u2019 will be held in partnership with Hogan Lovells, Proparco, responsAbility, RINA Consulting and Solarplaza, and invites PV developers to submit proposals for projects that are based in sub-Saharan Africa, and have a clear CSR (Corporate Social Responsibility) component.<\/p>\n Candidatesare askedto submit their proposals by October 1, 2017, via Phanes Group\u2019s website. Shortlistees will be invited to pitch their projects to an expert panel comprised of the incubator\u2019s partner organizations at Solarplaza\u2019s \u201cUnlocking Solar Capital Africa\u201d conference in C\u00f4te d\u2019Ivoire, October 25 – 26, where the industry\u2019s biggest players will hold extensive discussions about solutions for Africa\u2019s solar energy funding gap.<\/p>\n It comes as\u00a0part 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.<\/p>\n \u201cClean 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,\u201d said Martin Haupts, CEO, Phanes Group. \u201cWe believe thePhanes Group Solar Incubator -in collaboration with our partners- will leverage untapped local PV potential, and create more opportunities for local projects. Combined with our strengths in developing bankable\u00a0solutions for\u00a0clean, affordable energy and efforts in CSR, the incubator initiative can help to address local needs that haven\u2019t yet been met.\u201d<\/p>\n Christopher Cross of law firm Hogan Lovells, who will be part of the evaluation panel at the event, said\u201cWe 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 benefit of the region and its people.\u201d<\/p>\n 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.<\/p>\n This initiative aims to support developers not just in the funding phase, but throughout the project development and delivery phases, to ensure important, CSR-focused projects are brought to financial close.<\/p>\n Phanes Group, along with its partners, will provide PV developers with access to a reliable partner that will support them in reaching bankability.<\/p>\n Through an initial incubator phase, extensive mentorship, and access to the right network, this year\u2019s candidates will have an opportunity to roll-out a sustainable energy solution in their community, as well as develop a lasting relationship with an end-to-end, integrated solar expert.<\/p>\n Joseph Nganga, Executive Director, respons Ability Renewable Energy Holding, another participating partner, said, \u201cWe aim to finance ideas with growth potential and strong entrepreneurial spirit, that successfully serve broad segments of the population. This is why we are excited to be collaborating with Phanes Group on this incubator, and looking forward to our continued partnership with the solar sector in sub-Saharan Africa going forward.\u201d<\/p>\n After the winning project(s) have been announced at the \u201cUnlocking Solar Capital Africa\u201d event, the developers will be invited to join Phanes Group for an intensive 4-day workshop at its headquarters in Dubai, UAE. This will help lay the foundations for delivering a bankable and sustainable project.<\/p>\n \u201cRINA Consulting is keen to assist Phanes Group in this ingenious initiative to unlock solar potential on the continent. We look forward to helping projects find their way to implementation in this challenging but exciting market\u201d said Lee Smith, Project Manager for Africa, RINA Consulting.<\/p>\n \u201cAs dreamers of a future where everybody can have access to electricity for a fair price, initiatives focused on long-term success like the Phanes Group\u2019s Solar Incubator are always dear to our hearts,\u201d said Edwin Koot, Solarplaza. \u201cRenewable energy infrastructure projects result in myriad benefits. We wish participants the best in bringing forth this ripple effect to their communities, and look forward to meeting them at the \u201cUnlocking Solar Capital Africa\u201d conference this October,\u201d Edwin Koot added.<\/p>\n More about Phanes Group\u2019s Solar Incubator <\/strong><\/p>\n Phanes Group\u2019s inaugural Solar Incubator, held under the theme of \u201cYour Project, Our Expertise, For a Sustainable Future\u201d, will be supported by Hogan Lovells, Proparco, responsAbility, RINA Consulting and Solarplaza.<\/p>\n The initiative aims to select and develop PV project opportunities in sub-Saharan Africa that haven\u2019t been able to gain access to funding and necessary know-how. Corporate Social Responsibility (CSR) is an integral part of this initiative; along with the project details a solid CSR concept must be submitted and will be further developed during the incubator phase, and implemented in parallel with execution of the PV project.<\/p>\n The candidates of the winning project(s) will enter a partnership with Phanes Group and hold a long-term stake in the project, collaboratively bringing it to financial close. With the incubator, Phanes Group and its partners will provide the winner(s) with extensive mentorship and knowledge transfer throughout the project.<\/p>\n The Solar Incubator phase will kick off with an intensive 4-day face-to-face workshop in Dubai, UAE, working with Phanes Group\u2019s team and its partners, setting the foundations to deliver bankable projects. During that phase the winner(s) will gain access to commercial and technical know-how covered by experts from project finance, project development and execution, legal and CSR followed by further remote mentoring sessions for additional two months.<\/p>\n The deadline to submit projects for evaluation and shortlisting ends on October 1, 2017. The final selection process will take place during a live panel session in the \u201cUnlocking Solar Capital Africa\u201d<\/p>\n About Phanes Group<\/strong><\/p>\n Phanes Group is an international solar energy developer, investment and asset manager, strategically headquartered out of Dubai with a local footprint in sub-Saharan Africa, through its two offices in the region\u2019s largest economies – Nigeria and South Africa.<\/p>\n Phanes Group has a pipeline of 600 MW under development in Africa, with 260 MW of grid connected solar PV in Nigeria across three different projects. The first of the three to be built, in the Sokoto region, is backed by one of the Nigerian government\u2019s 14 PPAs. In addition, the group is developing off-grid solar solutions to ensure communities across the region have access to a stable and clean energy supply.<\/p>\n Established in 2012, Phanes Group\u2019s integrated approach, combining financial and engineering expertise, enables the company to deliver end-to-end solar energy solutions. The group has a growing portfolio of solar investments and developments spanning multiple geographies with a distinct focus on emerging markets, especially MENA and sub-Saharan Africa.<\/p>\n In the Middle East, Phanes Group is delivering the region\u2019s largest distributed solar project (DP World Solar Program) and completed phase I (33.4 MW) of the largest solar project in the Caribbean (Monte Plata). Cumulatively, the company\u2019s global clean power contribution is in excess of 70 MW, with a further 1.5 GW in the pipeline.<\/p>\n \u00a0<\/strong>About Unlocking Solar Capital Africa<\/strong><\/p>\n Unlocking Solar Capital Africa is an event entirely focused on connecting solar project development and finance & investment across the entire African solar sector (On-grid Solar, micro-grids, off-grid lighting and household electrification). Unlocking Solar Capital Africa 2017 will bring together hundreds of representatives from development banks, investment funds, solar developers, IPPs, EPCs & other solar stakeholders to engage in extensive discussions to solve Africa\u2019s solar energy funding gap – and get projects realized.<\/p>\n As a professional solar event organizer, Solarplaza has hosted over 90 events in 30 countries around the world, ranging from exploratory trade missions in emerging markets to large-scale conferences with 450+ participants. Unlocking Solar Capital Africa 2017 is Solarplaza\u2019s 8th conference on the African continent, and directly builds on our previous Unlocking Solar Capital Africa (Nairobi, Kenya) and Making Solar Bankable (Amsterdam, the Netherlands) conferences.<\/p>\n –<\/p>\n Credit: Phanes Group<\/p>\n","protected":false},"excerpt":{"rendered":" Phanes Group, an integrated end-to-end solar provider headquartered in Dubai, has launched its first Solar Incubator program, aimed at identifying PV projects of potential in sub-Saharan Africa by providing access to funding, and commercial and technical knowledge. The initiative, \u2018The PV Solar Incubator, Your Project, Our Expertise, For a Sustainable Future,\u2019 will be held in […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"yoast_head":"\n