(MENAFN) Dubai-based power developer Access Power MEA said that it has partnered with EREN, the French renewable energy developer, for the launching of an early stage investment vehicle for African power projects, Gulf Business reported
Under the Access Infra Africa vehicle, Access and EREN will partner together on the implementation of a development plan to create a portfolio of power assets in Africa worth over USD500 million, with EREN also acquiring equity stake in Access and granted a seat on the company's board.
"Africa's energy sector and wider economy could be transformed by the billions of dollars of financing available for Africa. However, this funding cannot have an impact without well-resourced and experienced developers willing to take early-stage project risk and turn good concepts into bankable projects," chairman of Access said.
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