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African Development Bank (Abidjan)

First Watt Renewables Winners of Renewable Energy Forum 2019

First WATT Renewables were winners of the 4th West African Forum for Climate and Clean Energy Financing (WAFCCEF) contest, held on Thursday 26 September in Abidjan and co-organized by the African Development Bank. The company, based in Canada, is a private sector clean-energy technology producer and supplier of sustainable energy solutions using an innovative mix of photovoltaic systems.

Presented by young Nigerian entrepreneurs Sherisse Alexander and Oluwole Ewéje, First WATT Renewables runs its project through an 'SPV', or 'Special Purpose Vehicle' set up to isolate financial risk, with a 'take-or-pay' model, that is, an indexed electricity-purchase agreement in dollars.

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