NKOMBO KACHEMBA
Lusaka
POWER trader Africa GreenCo has secured an additional US$11.5 million investment from existing shareholders, the Private Infrastructure Development Group (PIDG) and Impact Fund Denmark (IFDK), bringing its latest funding to US$21.5 million.
The investment is expected to strengthen the regional energy trader and intermediary off-taker’s capacity to support renewable energy projects and improve energy security across southern Africa.
The latest funding follows the recent entry of Sanlam Alternative Investments, one of Africa’s largest institutional investors, as a new private-sector investor in Africa GreenCo.
Africa GreenCo, which operates as a market-enabling renewable energy platform, said the additional capital will strengthen its liquidity buffer and risk-bearing capacity, enabling it to support up to 900 megawatts (MW) of renewable energy power purchase agreements (PPAs).
Founder and group chief financial officer Pug Bennet said the participation of both new and existing shareholders demonstrates confidence in the company’s business model.
“There is no stronger testament to the faith in a business than to see investment from both new and existing shareholders,” Ms Bennet said.
She said the additional financial strength, together with other facilities provided by GuarantCo and the European Commission under its EFSD+ programme, will enable GreenCo to support the energy transition in the region.
Africa GreenCo has been actively trading electricity for less than five years after obtaining membership of the Southern Africa Power Pool (SAPP) in late 2021.
The company holds licences in Zambia, Zimbabwe, Namibia and South Africa, and has so far traded more than 1.4 terawatt-hours (TWh) of electricity this year.
As a bankable off-taker for renewable energy independent power producers (IPPs), GreenCo helps address one of the major challenges facing new power projects, securing credible buyers and payment security.
Its model allows it to balance clean energy services across multiple markets while supporting national utilities and other energy buyers.
IFDK managing director and co-head of Green Energy and Infrastructure Thomas Hougaard said the organisation has supported Africa GreenCo since its first capital raise.
He said IFDK also helped mobilise a €50 million guarantee facility in 2025, which enabled the company to attract additional private capital and bring Sanlam on board.
PIDG head of business development for Africa at InfraCo Omar Jabri said the investment will support the next phase of GreenCo’s growth and help transform the region’s renewable energy landscape.
Sanlam Alternative Investments executive head of infrastructure finance Mark Moorhouse said GreenCo occupies a critical position in the energy value chain by helping determine whether new power generation can ultimately be delivered.
He said the investment reflects Sanlam’s commitment to supporting Africa’s energy transition and developing commercially bankable energy infrastructure.
With electricity demand rising rapidly across Africa, GreenCo said its model can help governments attract private investment into renewable energy projects while strengthening regional power integration.
