Afrik21
| Jean Marie Takouleu
ZAMBIA: USTDA Funds Renewable Energy Storage Study
The U.S. Trade and Development Agency (USTDA) is awarding a grant to GreenCo Power Storage, a Zambian-based company. The funding will support a study for the deployment of battery-based electricity storage systems. One of the main obstacles to the development of renewable energy is the intermittent availability of natural resources such as wind for wind and solar for solar. In Zambia, the U.S. Trade and Development Agency (USTDA) wants to support the development of alternatives to reduce the impact of the intermittency associated with clean energy production. The agency is awarding a grant to GreenCo Power Storage, a company based in Zambia...
Energy Storage News
| Cameron Murray
USTDA provides grant for feasibility study into 400MWh BESS rollout in Zambia
The US Trade and Development Agency (USTDA) is funding the assessment of a large-scale battery energy storage project in Zambia, which could grow into a 400MWh nationwide rollout. The independent agency of the US government announced the undisclosed grant to local firm GreenCo Power Storage Limited (GreenCo) last week (31 March). GreenCo will use the funding to assess the technical, economic, and financial viability of deploying a utility-scale project in the Sesheke District, with the chosen technology and system design still to be chosen. A media statement didn’t disclose the planned size of the unit but said it would be ‘one of the largest such battery installations in all of Africa’. It said it would help facilitate the integration of renewable energy resources in Zambia and ensure the stability and reliability of the grid...
FIZ Zambia
| FIZ Zambia
GreenCo Signs Grant Funding Agreement with USTDA For Battery Storage Feasibility Study
On March 31, 2023, GreenCo Power Storage Limited officially signed a grant funding agreement with the United States Trade & Development Agency (USTDA) for a Battery Storage Feasibility Study. The signing ceremony took place at the GreenCo offices located at the United Church of Zambia Synod Building at 1:30Pm CAT and was attended by USTDA representatives and key government stakeholders...
The U.S. Trade and Development Agency – Press Release
| The U.S. Trade and Development Agency
USTDA Funds Battery Energy Storage Expansion in Zambia
The U.S. Trade and Development Agency announced that is has awarded a grant to Zambia’s GreenCo Power Storage Limited (GreenCo) for a feasibility study to expand battery energy storage systems (“BESS”) throughout the country. The project will help facilitate the integration of renewable power into Zambia’s grid, while ensuring its stability and reliability. GreenCo selected Maryland-based K&M Advisors, LLC, to carry out the study. ..
The White House
| The White House
FACT SHEET: Vice President Harris Announces Initiatives to Advance the U.S. Partnership with Zambia
The U.S. Trade and Development Agency (USTDA) will support the expansion and reliability of Zambia’s renewable energy infrastructure through more than $1 million in grant funding for a feasibility study that will help develop a utility-scale battery energy storage system. USTDA’s grant would advance the efforts of Africa GreenCo Group, a renewable energy trader, to develop a 400 megawatt-hour battery energy storage system portfolio that would be one of the largest in Africa. ..
Zawya
| Distributed by APO Group on behalf of Green Energy Africa Summit.
The role of Utility, Challenges of Creditworthiness, Infrastructure, and Capacity (By Ana Hajduka)
Lusaka Times
| Chief Editor
ZESCO welcomes private sector in electricity market
Minister of Energy, Peter Kapala has noted that the entry of the private sector into the Zambian Electricity market will support the country’s development of a greener and diversified energy mix that supports jobs and investments...
Esi Africa
| Theresa Smith
$15.5m Investment into Zambia’s first renewable energy buyer
InfraCo Africa, the Danish Investment Fund for Developing Countries (IFU) and EU-funded Electrification Financing Initiative (EDFI ElectriFI) will finance Africa GreenCo to the tune of $15.5million to enable it to scale its offering as Zambia’s first renewable energy buyer and service provider...
PV Magazine
| Emiliano Bellini
First PPA-linked solar park in Zambia
Zambia-based GreenCo Power is seeking independent power producers for the construction of a solar park with a capacity of up to 40 MW in the sub-Saharan country. The pilot project will be the first in taking advantage of new rules that liberalized the Zambian energy market by enabling bilateral power purchase agreements...
Zambia Daily Mail
| KALONDE NYATI
Africa GreenCo Group: Game-changer to halting darkness
THE year 2020 was characterised by load shedding in the wake of the 810 megawatts (MW) energy deficit, which was triggered by droughts experienced in the previous years. This year has seen ‘preconditions for take-off’ being set in a quest to develop a reliable energy mix. The projects both private and public sectors initiated, when actualised, could make load shedding a thing of the past as there will be enough power supply and most importantly promote the development of renewable energy. Notable among the projects are the planned development of an intermediary renewable energy buyer/supplier and power services provider. The project being developed by Africa GreenCo Group, together with its Lusaka-based operating company GreenCo Power Services, will be a game-changer in the energy space...
Impakter
| Sarbinder Singh - P4G | Ana Hajduka - Africa GreenCo
How Multistakeholder Partnerships Can Deliver SDG Progress
A Case Study on P4G Partnership & Africa GreenCo. Last month, the World Resources Institute launched a landmark new report, “A Time for Transformative Partnerships” that outlines success factors critical to the growth and implementation of multistakeholder partnerships driving progress on the SDGs. ..
Zambia Daily Mail
| Staff Writer
Chikwanda nods GreenCo entrance in power sector
ENERGY expert Johnston Chikwanda says the entrance of GreenCo Power Services into the electricity off-taking market will ease the burden on Zesco Limited, which has been the only offtaker of power from independent power producers (IPPs)...
Convergence Design Funding Grantee Africa GreenCo Becomes Operational with USD 1.5 Million Investment
In 2017, Convergence awarded a design-stage grant to Africa GreenCo, for the design of an intermediary off-taker and aggregator of renewable energy projects across Sub-Saharan Africa, to attract private sector investment. In late October of this year, Africa GreenCo with its Lusaka-based operating company GreenCo Power Services (together GreenCo), received an investment of USD 1.5 million from Denmark’s Investment Fund for Developing Countries (IFU) and Private Infrastructure Development Group’s InfraCo Africa (InfraCo), completing GreenCo’s operational establishment in Lusaka as an intermediary renewable energy buyer/supplier and power services provider. It is anticipated this is a precursor to the 2021 capitalization of GreenCo's support for independent power projects...
Further Africa
| Staff Writer
Going green: US$1.5M power-up for Zambia’s GreenCo Power Services
GreenCo Power Services, a subsidiary of Africa GreenCo has received a total of US$1.5M through two deals. The Danish government’s Investment Fund for Developing Countries (IFU) has committed US$1M in funding. InfraCo Africa, the investment arm of the Private Infrastructure Development Group also put in US$500k through a convertible loan...
Energy Mix Report
| Staff Writer
InfraCo and IFU fund GreenCo for renewable energy in Zambia
Africa GreenCo Group has just received US$1.5 million from InfraCo Africa, a company of the Private Infrastructure Development Group (PIDG), as well as from the Danish government’s Investment Fund for Developing Countries (IFU)...
Afrik21
| Jean Marie Takouleu
ZAMBIA: InfraCo and IFU fund GreenCo for renewable energy
Africa GreenCo Group has just received US$1.5 million from InfraCo Africa, a company of the Private Infrastructure Development Group (PIDG), as well as from the Danish government's Investment Fund for Developing Countries (IFU). Through its subsidiary GreenCo Power Services, the company buys and resells electricity generated from renewable sources...
Africa GreenCo to scale up private investments in renewable energy in Africa
High risk is one of the major impediments to the scaling up of private investment in renewable energy in sub-Saharan Africa. An innovative new corporate business model, Africa GreenCo, offers to mitigate risk by acting as a creditworthy off-taker for Independent Power Producers. IFU has committed DKK six million to finance part of Africa GreenCo’s development cost...
P4G Partnership Africa GreenCo Announces the Operationalization of a New Business Model to Scale Renewable Energy in Zambia
P4G Partnership Africa GreenCo (GreenCo) announced this week the investment of USD 1.5m by Denmark’s Investment Fund for Developing Countries (IFU) and Private Infrastructure Development Group’s InfraCo Africa (InfraCo). This investment completes the partnership’s operational establishment in Lusaka as an intermediary renewable energy buyer/supplier and power services provider...
Pumps Africa
| Anita Anyango
InfraCo Africa signs convertible loan agreement with GreenCo
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a convertible loan agreement with Africa GreenCo Group (GreenCo) to progress an innovative approach to building Zambia’s renewable energy capacity...
Africa Global Funds
| Staff Writer
InfraCo Africa signs CLA with GreenCo
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a convertible loan agreement with Africa GreenCo Group (GreenCo) to progress an innovative approach to building Zambia’s renewable energy capacity...
InfraCo Africa
| Staff Writer
Adopting an innovative approach to powering Zambia’s future
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Convertible Loan Agreement with Africa GreenCo Group (GreenCo) to progress an innovative approach to building Zambia’s renewable energy capacity. InfraCo Africa has leveraged US$500,000 of funding from PIDG Technical Assistance (PIDG TA) to support wider work to develop the initial operational capability of GreenCo’s Lusaka-based company, GreenCo Power Services...
Forbes
| Ken Silverstein
