2x Population growth
5x Increase in GDP
70% Grid access up
from 25% in SADC
4x Power Consumption
to 1600 TWh pa
More than $800bn in capital needed
for new generating capacity
for transmission and distribution
Value unlocked by regional approach:
in capital savings from integrated planning
African consumer savings of $10bnpa through lower LCOE
- Lack of creditworthy counterparties for generation projects scale up
- Rehabilitation of utilities is key but sustainable and material improvements can only occur in the medium to long term
- The current project-by-project approach to electrification of the continent is unsustainable
- The main issues created by the current funding model are that:
- Support through existing instruments is not sufficient to address funding gap
- Credit enhancement of projects on a one-off basis adds cost and delays
- No single project is able to shift the attitude of commercial investors to bankability; a systemic and structural
- change is required
- Putting the burden on governments to provide explicit and implicit guarantees or counter-guarantees shifts the creditworthiness issue to the sovereign level
African countries cannot continue to add contingent liabilities against these commitments given their current fiscal position and the medium term macro-economic environment.
Unlike current development efforts which mostly focus on project preparation, advocacy, capacity building or on the financing components for renewable energy generation, Africa GreenCo proposes an introduction of a principal in the market which addresses the core issue of creditworthiness of off-takers and the lack of a viable power market to sell electricity production.
The envisioned entity is an ambitious attempt to help increase the liquidity and scale of regional power trade and develop the power pools in sub-Saharan Africa by providing them with the first ever government co-owned, independently managed and financially sustainable electricity service provider capable of developing a fair and standardised electricity market.
Africa GreenCo aims to learn from, and where possible replicate, the dynamics of more advanced power markets, in particular building on the experience of the Power Trading Corporation of India (PTC India). PTC India was also set up in order to act as a credit risk mitigating intermediary offtaker for privately-financed regional power generators. In the process, it catalysed the entire Indian regional power sector trading market
Africa GreenCo Team
Founder & CEO
Ana is qualified as a lawyer in both England & Wales and the State of New York, and is an infrastructure and energy professional with more than 14 years’ experience in a variety of transactions including project finance, public-private partnerships and project development, working on energy and infrastructure projects in emerging markets.
Ana trained with Allen & Overy LLP and went on to work for Fulbright & Jaworski LLP and Trinity International LLP, advising on a diverse range of projects within the energy sector, predominately in Sub-Saharan Africa. In March 2015, Ana was appointed by the UNECE as the Team Leader responsible for a Project Team (comprising about 30 specialists) in charge of developing international renewable energy PPP standards as part of the Sustainable Energy for All agenda.
Lovemore’s core skills are in power system strategic management, operations and electricity trading having worked in this area for over 30 years. He has operated hydro and thermal power stations and transmission networks and has negotiated, implemented and managed numerous power purchase agreements. He is a founder member of SAPP and was a key member in formulation, implementation, monitoring and revising the SAPP control performance criteria and the SAPP regional trading rules that enabled launching of a competitive electricity market in SADC. Lovemore is a senior member of the South African Institute of Electrical Engineers (SAIEE) and has lectured power utility risk management and operations management in an MBA programme for more than nine years.
Penny Herbst has over 30 years of experience in an utility environment most of this in Eskom’s Treasury department, where she was exposed to a diverse set of financial, commercial and legal structures that emanate from its operations. Amongst others she has managed Eskom’s foreign and interest rate risk, money and capital market investments, project finance transactions, and the structuring of projects to mitigate risks associated with projects in Africa. She led the formation of Eskom’s Development Finance unit where in the role of Development Financing Manager she was instrumental raising, in excess of $6bn, from DFI and related institutions. This included funding for Eskom‘s first renewable projects where she spent some time in Eskom’s Renewables Unit working on bridging the gap between financing and implementation.
Johannes Baake is an experienced financial analyst with over 13 years’ experience in banking, project and development finance. During 10 years at KfW IPEX Bank, he worked in various roles. As a part of a highly specialized modelling team, he worked on dozens of large international project finance in various sectors. He also spent time at the KfW Climate Change Fund, where he designed a cash flow model for a portfolio of CDM projects, leading to his Master Thesis on “Innovative Financing Structures for programmatic Clean Development Mechanism”.
In 2016 Johannes started to work as an independent consultant and founded in 2017 financial modelling boutique b.linked GmbH which mainly advises large banks and funds on financial structuring energy projects in Africa.
Tantra is the former Head of PTC India with more than 40 years of experience with government, private and global companies in India, South Asia and SE Asia. Under his stewardship as Chairman and Managing Director from 2000-2012, PTC India became the first electricity trading company in India/ South Asia. He led the company to diversify into financial services through PTC India Financial Services Limited and co- sponsored the first Energy Exchange in India.
He now serves as a non-executive Member of Board of several companies including InfraCo. He has provided advisory services to many other companies in the Energy Sector in India including Fortnum India and the Essar Group. He was deputed to UNHCR for performance audit on behalf of the UN Board of Auditors. He served as a member of the Prime Minister’s Task Force on the socio-economic development of Jammu & Kashmir in India.
Alex is the Executive Secretary, Head of Africa Coordination Unit & Global Lead on Climate Resilience for the Global Water Partnership Southern Africa. Alex is an international development professional with extensive expertise in water resources management, climate change adaptation, economic development, finance, investment strategy design and public policy.
Through his career he has developed partnerships and collaborated with various international agencies: World Bank, UNDP, UNICEF, UNEP, UNFCCC, Green Climate Fund, UN Water, GEF, FAO, WMO, UNESCO, AfDB, ADB, EIB, IADB, SADC, ECOWAS, ECCAS, EAC and others. He has worked with more than 20 countries in Africa, to develop investment plans on integration of water into economic national development.
Advisory Committe Member
Philippe is a well-known African
energy expert. A former Head of Energy Division within the Department of Infrastructure and Energy, African Union Commission, he developed key energy programs including the Program for Infrastructure Development in Africa (PIDA-energy sector), the Geothermal Risk Mitigation Facility (GRMF) and the Geothermal Regional Program for the Eastern African Countries, the establishment of Africa-EU Energy Partnership which is the most successful of the eight partnerships Joint Africa-EU Strategy launched in 2007, the SE4ALL Africa Hub Action Agenda and Investment Prospectuses for African countries and participation at the elaboration of the Africa Renewable Energy Initiative supported by G7 and adopted at the COP21 in Paris, France in December 2015.
Advisory Committee Member
James is an emerging market infrastructure and climate finance expert with over 30 years experience at the Green Climate Fund, MIGA, the World Bank, the International Finance Corporation and in industry. He has extensive expertise in project and sovereign finance in emerging economies, particularly in infrastructure, energy and climate-related investments. He also serves a non-executive director on the boards of several companies and foundations.
Africa GreenCo Team
Grant Support Provided by
Recommended by the SE4All Finance Committee Report
We are delighted to be presenting at COP23, “Africa GreenCo: A PPP to De-Risk and Scale Up Sustainable Investments in the African Power Sector.” Click to view full details below.
Venue: EUPavilion, Bonn Zone
Date/Time: 14 November 2017, 16:00-17:30
Africa GreenCo CEO Ana Hajduka cycling from Spain to Morocco for COP22, Moving for Climate NOW.
Suite 1, 3rd Floor
11-12 St. James’s Square
Fountain Court, 232 Waterkloof Road, Brooklyn, Pretoria, 0181
Ana Hajduka (Africa GreenCo Founder and CEO)
+44778 920 4363