Dubai-based company, Access Infra Africa set to launch what will be Africa’s largest privately owned solar plant in Uganda. Part of their plans is to develop electricity projects in 17 African countries, primarily based on renewable energy.
Reda el-Chaar, executive chairman of Access Power MEA, the majority owner of Access Infra Africa, said on Tuesday that the Company will spend $500m in the next three years on power generation plants, in countries such as Egypt, Ghana, Uganda, Tanzania, Kenya and Mozambique. “Solar power is no longer an exotic power solution, it’s becoming a real contender in any (power) generation mix,” Mr Chaar said.
It is estimated that about 620-million people in the sub-Saharan Africa, two thirds of the population, lack access to electricity, an International Energy Agency (IEA) report estimated last October, predicting its energy demands would increase by 80% by 2040.
Access Infra Africa’s 10-megawatt solar and wind power station In Uganda will start generating electricity later this year, the first of its plants to become operational. A mega deal, both on merit and on paper, Chaar has stated that the power plant, “will be the largest privately-owned solar power plant in Africa.”
This will see the region’s power generation capacity to quadruple, the IEA forecast, with renewable energy accounting for about 45 percent.
It has also been revealed that in 2016, Access infra will also launch a 50MW solar and heavy fuel oil hybrid plant in Benin and a 200MW solar and wind plant in Egypt.
“We hope to become profitable in next three years, our target is to deploy $500m of investments into a variety of assets,” Mr Chaar said.