Received: Project Development Finance
NextGen Solar is one of the first private sector companies to be awarded project development financing under the US Africa Clean Energy Finance (ACEF) initiative.
ACEF is a collaborative financing mechanism announced at the United Nations’ Rio+20 conference and developed by the State Department, OPIC and USTDA. Financed by $20 million in State Department funding, ACEF aims to catalyze private-sector clean energy deals. The Initiative aims to align USTDA’s project planning expertise and OPIC’s financing and risk mitigation tools in new ways, to support private sector investment and increase support for U.S. businesses and exporters in sub-Saharan Africa’s clean energy sector.