pioneer & develop
Catapulting the next wave of clean energy developers
At the Future of Energy, five first-time developers from across Africa will pitch their renewable energy ventures to a panel of seasoned investors. These developers represent a new wave of home-grown project development talent, poised to transform the landscape of clean energy in Africa. According to Vivek Mittal, CEO of Africa Infrastructure Development Association (AfiDA), “Pitching at a conference is just the start of their journey in the Catapult Accelerator Program.”
AfiDa is the organization behind the Catapult Accelerator Program; as the CEO, Vivek is closely involved in supporting the developers on their path to success. He emphasizes, “Did you know that it takes between seventeen to twenty institutions to move a project from concept to financial close?” He also stresses the need for an ecosystem where developers can access the necessary skills, talent, and capital: “An ecosystem can only thrive with a regular supply of projects, where success is repeated and replicated, and where more developers and investors join, recognizing the profit opportunity.”
"Did you know that it takes between seventeen to twenty institutions to move a project from concept to financial close?"
The Catapult Accelerator aims to accelerate project development in Africa by fostering collaboration among stakeholders. In the past eighteen months, seventeen developers from eight countries raised US$5.0 billion for projects in clean energy, telecoms, and new cities. Participants enjoy networking opportunities, mentoring, and collaborative learning. Led by experienced financiers and developers, the program equips executives with project finance tools. Vivek adds, "We also collaborate with governments and partner institutions to enhance regulations and policies, facilitating quicker financial project closures. The goal is for all of this to contribute to a thriving ecosystem for deal-making on the continent, providing affordable and effective infrastructure for its nations and citizens."
The Africa Infrastructure Development Association (AfIDA) is an association of project developers that seeks to promote and enable project development activities in Africa, by creating an ecosystem and platform that will foster continuous dialogue amongst its members, standardize project development template documents and serve as a policy advocacy platform for the industry, with a view to ensuring that more projects on the continent achieve bankability.
