A fast start to 2023 – EC – EFSD – GreenCo at ADSW – Atlantic Council and UICCA-Convergence
We are delighted to announce that the Operational Board of the European Fund for Sustainable Development plus (EFSD+) has given the green light to a €50m guarantee to support GreenCo’s expansion within the Southern African Development Community, including Zambia, Namibia, Zimbabwe and South Africa. The proposal was developed with and submitted by the Danish Investment Fund for Developing Countries (IFU), one of GreenCo’s valued investors. The guarantee provides a backstop to long term market risk on the Southern African Power Pool and will cover outstanding debt lent to IPPs in GreenCo’s portfolio in the unlikely event that despite GreenCo’s operational mitigation capabilities and the significant liquidity protection it is able to provide, GreenCo becomes unable to fully service the PPA. We commend the European Commission for recognising the catalytic effect this guarantee can have on attracting debt within the innovative commercial arrangements GreenCo is putting in place and look forward to finalising and operationalising the guarantee over the coming months.
Read more in our latest newsletter https://lnkd.in/d-CQjqbp
News
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