off-grid power Tanzania
Africa Power is focussed on the provision of off-grid power Tanzania and Zambia, and has won a prestigious SPICEF business plan competition, administered and sponsored by @CTI-PFAN and @Sida to enable its off-grid power business to move ahead.
Covering both our Tanzanian and Zambian growth plans, the package includes business plan coaching; an investor workshop in Nairobi on November 30th and business plan presentations at an invitation-only investor forum in 2017.
the winning business model for off-grid power Tanzania
Africa Power demonstrated that its, clean energy business model for off-grid power in Tanzania would be financially viable, socially responsible and environmentally beneficial. This investor-ready project has already carried out its first installations, testing a range of solar home systems with PAYG flexibility. Africa Power’s combination of telecom, solar and on the ground maintenance and installation experience ensured success for its application.
SPICEF choose 16 companies to mentor and support from over 100 applicants. SPICEF commented, “…it is a well presented business plan. It appears a lot ground work and thinking has gone into the structure”. One of the coaches commented “[It was an] Exceptionally well presented business plan. Very clear commercial and social model. Very experienced team makes for a convincing presentation.”
Africa Power is seeking to raise $2m funding into its Joint Venture operation Sincronicity Africa Power in Tanzania SAfP together with Sincro SiteWatch a Tanzanian company with 8 years’ experience in off-grid rural power (primarily for telecoms) including the maintenance of 200 solar installations across the country. SincroSiteWatch are experts in the switch to solar of existing diesel telecom towers, and have existing maintenance infrastructure in place. Over the next few months, SAfP is market testing a range of new Solar Home Systems in rural villages in Tanzania in preparation for this growth stage expansion.
Partners for growth
The Sida PFAN Initiative on Clean Energy Financing (SPICEF), which is promoted by the Swedish International Development Cooperation Agency (Sida), the Climate Technology Initiative (CTI) and its Private Financing Advisory Network (CTI PFAN), the Renewable Energy and Energy Efficiency Partnership (REEEP), United States Agency for International Development (USAID) and the International Center for Environmental Technology Transfer (ICETT), seeks to nurture entrepreneurs, start-up and existing companies, project teams and consortia with environmentally beneficial business proposals with the aim of linking them with investment and finance and seeing through the implementation of these projects.
For more information on our JV SincronicityAfricaPower follow @SAfP_Tz, for upto date information on AfricaPowerLtd, follow @africapowerltd