GreenCo gets funding to set up Zambian renewable energy intermediary

In:

Renewable energy, Traditional energy

Region:

Middle East & Africa

Africa GreenCo, through its Zambia-based subsidiary GreenCo Power Services, has received an investment of $1.5 million to complete its operational establishment in Lusaka as an intermediary renewable energy buyer/supplier and power services provider.

The investment was from Denmark’s Investment Fund for Developing Countries and Private Infrastructure Development Group’s InfraCo Africa. It is anticipated this is a precursor to the 2021 capitalization of GreenCo's support for independent power projects.

Blended finance network Convergence in 2017 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.

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