Serengeti Energy in collaboration with the Private Financing Advisory Network (PFAN) is excited to announce the launch of the 2022 Umoja Incubator.
The incubator aims to help aspiring entrepreneurs in renewable energy to bring their project to financial close. This is achieved by improving the bankability of the most promising renewable energy projects through access to commercial and technical knowledge, and finally securing the funding. The application period is open until September 4, 2022, after which a jury consisting of top-tier industry partners will evaluate the projects. The best candidates for the programme will be invited to a one-week workshop in Cape Town, in which the winner of the first Umoja Incubator will be announced.
More than 500 million people in sub-Saharan Africa have no access to electricity. This lack of access to modern electricity services limits the educational and business opportunities along with the economic prospects and well-being of these populations. Increasing the share of clean electricity will not only fight climate change on a global scale, but also help the continent to overcome key economic challenges and directly support the Sustainable Development Goals.
Umoja, which in Swahili means “unity” or “togetherness”, has been established to tackle these challenges. Unity and togetherness symbolize the main objective to give energy developers in sub-Saharan Africa the necessary tools to succeed and positively impact their communities through the provision of clean and reliable energy – together with Serengeti Energy and PFAN. Through the incubator, Serengeti Energy and PFAN will identify and support renewable energy projects in sub-Saharan Africa that, for different reasons, are unable to reach beyond the initial planning phase.
The partnership between Serengeti Energy and PFAN is based on shared values and the common goal of providing clean and renewable energy to sub-Saharan Africa. Through the incubator, both parties will focus on their respective strengths to provide expert advice as well as access to development capital. The programme is financed by Serengeti’s Technical Assistance Facility that consists of the German Kreditanstalt fuer Wiederaufbau (KfW), the Nordic Development Fund (NDF), the Swiss State Secretariat for Economic Affairs (SECO) and the Korea International Cooperation Agency (KOICA).
Our Umoja Incubator aims to create long-lasting partnerships that exchange technical and commercial knowledge, build an ecosystem for renewable energy developers and provide aspiring candidates with everything needed to get their projects into construction. We are excited to launch this programme in close collaboration with PFAN, who have successfully been working with developers in Sub-Saharan Africa since 2006.Marian
Grabowski, Head of Technical Assistance and Strategic Partnerships – Serengeti Energy.
Clean energy project development and finance raising is long and arduous! It requires multiple stakeholder contributions to make it a success. This collaboration between PFAN and Serengeti Energy is timely and it encapsulates the African adage that demonstrates the value of working together. To go fast, go alone; to go far, go together.
Albert Boateng, PFAN West Africa Regional Coordinator
Candidates need to submit their proposals before September 4, 2022 via https://serengeti.energy/incubator/ where they can also receive more information about the programme and evaluation criteria.
