P4G Scale-Up 2018: Africa GreenCo
Across the 15 countries that make up the South Africa Development Community, less than a quarter of the population have access to electricity, while in rural areas that number goes down to 5 percent. Africa GreenCo is a public-private-partnership between African governments, the private sector and international financial institutions to create a dynamic new participant in the Southern African Power Pool (SAPP). Africa GreenCo will be a regional creditworthy intermediary offtaker and power services provider, reducing the credit risk and therefore cost of renewable energy generation projects. Its initial focus will be on supporting projects in Zambia prior to expanding into other SAPP member countries. Africa GreenCo’s transformative role is to mobilise significant private sector finance for the sector, to increase the liquidity of and reliance on the SAPP markets for risk mitigation and begin to diversify away from the current model of African governments taking on heavy contingent liabilities to secure individual energy projects. Ultimately, improving energy access will enhance education, health care, and stimulate economic development in a part of the world with the highest concentrations of people living in poverty.
News
Africa GreenCo’s creditworthiness – announcing a USD 27 million Guarantee Facility with GuarantCo
Africa GreenCo Group (GreenCo) has signed a USD 27 million Guarantee Facility with GuarantCo, part of the Private Infrastructure Development Group (PIDG) to boost renewable …
GreenCo Signs MOU with ZESCO for BESS Project
We are thrilled to announce the signing of a Memorandum of Understanding (MOU) with ZESCO Limited for a Battery Energy Storage Systems (BESS) project …
🌍🌱 COP 28 (6/12/2023): GreenCo, AMEA Power, and ZETDC/ZESA Sign MoU
We are thrilled to announce a significant development in Zimbabwe’s journey towards renewable energy and sustainable electricity infrastructure. At this year’s COP 28, Africa GreenCo, AMEA Power and Zimbabwe Electricity Transmission and Distribution …
🌍🌱 COP 28 (3/12/2023): GREENCO’S LANDMARK MILESTONES IN ZIMBABWE’S ELECTRICITY SECTOR
We are thrilled to announce GreenCo’s significant milestones in advancing renewable energy and sustainable development in Zimbabwe. At COP 28 in Dubai, we celebrate …
🌍🌱 COP 28 (2/12/2023) : SIGNING OF GREENCO – ILUTE PPA : Pioneering a New Era for Open Access Electricity in Zambia
We are thrilled to announce the successful execution and signing of GreenCo’s first Power Purchase Agreement (PPA) with Ilute Solar, a partnership between Serengeti Energy …
ZESCO and GreenCo Execute System Operations Agreement (SOA)
Africa GreenCo Group, through its Zambian-based operating company GreenCo Power Services Limited, is delighted to announce the successful execution of a System Operations Agreement …