News Renewable Energy

Renewable Energy Innovator? Apply For Umoja Incubator

Do you need to expedite a renewable energy project? Do you require money for a project? Would you like to increase your technical expertise and understanding of the renewable energy sector?

You’ll get there with the help of Umoja incubator program. Be a core component of Africa’s transition to renewable energy.

Umoja, which means unity in Swahili, represents our intention to provide the resources required for aspirant renewable energy companies in sub-Saharan Africa to successfully execute their projects.

You may access finance, international networks, and technical and commercial knowledge through the incubator.

The sub-Saharan region of Africa offers excellent opportunities for renewable energy investment.

Although several local developers have found ideal sites in Africa, where there is a huge potential for renewable energy, substantial project development is hampered by a lack of investment capital or experience.

By connecting promising early-stage renewable energy ideas with funding opportunities, the Umoja Incubator seeks to alleviate this issue.

The Serengeti initiative is accepting submissions from ambitious developers in the renewable energy sector who have innovative ideas but lack the necessary skills or resources through the Incubator Program, often known as the “Umoja Incubator.”

Between June and September 2022, industry judges will review the submitted proposals.

Serengeti Energy will collaborate with the winning project(s). To help them flourish and have a beneficial impact on their communities, we want to provide them with resources like access to technical and commercial knowledge as well as funding eventually.

Eligibility for participation

The project you submit must meet the following regulations and guidelines in order to be qualified to take part in the incubation program:

  • Presented by the owner(s), owners collectively, or representatives, as the case may be
  • Reside in sub-Saharan Africa (SSA)
  • The location must not be protected by IFC Performance Standard 6 or the IUCN
  • Use exclusively renewable energy sources (wind, solar, and hydro), with a size range of 3–50 MW and a cap of 25 MW for hydropower projects.
  • Possess an MOU or EOI as a minimum and have moved past the “concept stage.”
  • Possess a workable off take strategy and reside in a nation with IPP-friendly laws and policies.
  • Up to 30MW for hydro with a minimal or negligible impact on the neighborhood
How to apply

You can find the application form here. The deadline for registration is Friday, September 2, 2022.

Don’t miss important articles during the week. Subscribe to weekly digest for updates

Source link