Africa GreenCo Renewable BESS Procurement Programme

12 July 2022, Africa GreenCo (GreenCo) is delighted to announce its intention to procure a 40 MWh Battery Electricity Storage System in Zambia to complement its phase I generation portfolio of 105MW. Interested developers may submit their Expressions of Interest (EOI) to initiate formal engagement with GreenCo. Further information and a template EOI are available on https://www.africagreenco.com/bess/

About GreenCo

Africa GreenCo Group Limited via its operating entity GreenCo Power Services Limited acts as an intermediary offtaker and service provider, purchasing power from renewable IPPs and selling that electricity to utilities and private sector offtakers (i.e., commercial and industrial users) and markets of the SAPP. GreenCo will mitigate the risk of purchaser default through an ability to secure alternative buyers or through short-term trading on the SAPP electricity markets. Through its participation in competitive power markets, GreenCo will promote cross-border power transactions and a more dynamic and liquid short-term power market. Through its activities, GreenCo will increase the supply of, and demand for, finance for energy projects, and mobilise private sector capital more quickly towards critical and transformative capacity addition. For more information please see: https://africagreenco.com/

On 13th April 2022, GreenCo achieved its second financial close with an equity investment of USD15.5m by the Danish Investment Fund for Developing Countries (IFU), the EU-funded Electrification Financing Initiative (EDFI ElectriFI) and Private Infrastructure Development Group’s (PIDG) InfraCo Africa. This investment provides the requisite capital to scale up operations as a regional creditworthy buyer of renewable energy and support the growth of its supply portfolio.

Through its Zambian subsidiary, GreenCo Power Services Limited, GreenCo ran a competitive tender process in 2021 to procure its initial solar PV project in Zambia. The Ilute Solar consortium, comprising Western Solar and Serengeti Energy, emerged as the preferred bidder to develop, build, own and operate a 25MW generation facility in the Sesheke District of the Western Province.

GreenCo also intends to expand its operations into other SAPP-connected countries and is in advanced discussions with the regulators and utilities in several countries. Such operations will comprise both (i) providing access to the Southern African Power Pool (SAPP) markets for generators and customers and (ii) committing to long term fixed price PPAs to facilitate greenfield development.

As a member of AfIDA GreenCo invites all developers and funds to complete the survey for the AfIDA Catapult.

This is AfIDA’s first pan-African infra developers and funds survey.  AfIDA would like to hear from you regardless of whether you are a member or non-member or of the status of your projects or fund.  In fact they are particularly keen on hearing from first time developers and first time fund managers, as long as you have a credible ask for $ 20 million or more of capital for your first project.

The Catapult is aimed at improving the developer experience on the Continent. The AfIDA  assessment is that projects take too long in gestation, and this is both the effect and cause of many problems we face, not least the large gaps and overlaps of capital, and a perception of poor risk transfer between public-private sectors.  The Catapult is an ecosystem where developers learn from each other, find easier access to deep pools of expertise, experience and capital already available for the sector, and access advocacy support for more effective frameworks, policies and financing instruments.  This is the essence of The Catapult – for a creating a dynamic of scale, speed and security of investment in the African infra sector.

Intake at the Catapult will take place through rolling pitch-sessions to some of the best known investors and financiers, and the first of these sessions is planned for 05-October at the Green Energy Africa Summit to be held in Cape Town. For more information about the summit please see: link

This survey is intended to find the first participants in the Catapult.  We would like all stakeholders from the African Infrastructure to sector engage, so please do take part in this survey.   If you are a well established institution – then we urge you to have at least three companies in your deal-pipeline take part in this.

Responses in by 19 July 2022.

Please take the survey using this link or  https://www.surveymonkey.com/r/2022-Developers-Funds