Africa Greenco
- Country
- Zambia
- Technology
- Solar PV
- Business model
- IPP
ElectriFI committed a total investment of USD 5.5 m in Africa GreenCo Group as part of a USD 15.53m equity round dedicated to the funding of a Liquidity Buffer covering GreenCo’s payment obligations under the PPAs, and the funding of working capital needs of the company for the next 2 years.
Contract signature date: November 2021
Total ElectriFI financing: USD 5.5 m
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
ElectriFI, together with InfraCo Africa and Danish DFI IFU have together committed USD 15.5m to enable Africa GreenCo to scale its innovative offering as Zambia’s first renewable energy buyer and services provider.
Africa GreenCo (AGG) 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 Southern African Power Pool. In that perspective, the company intends to address the poor creditworthiness of the state-owned utilities. AGG aims to establish dedicated entities in selected countries; starting with Zambia.
Impact
- Beneficiary
- Africa GreenCo
- Financing Instrument
- Equity
- Amount
- USD 5.5m (EUR 4.9m)
- Countries
- Zambia
- Technology
- Solar PV
- Business model
- IPP
- Year
- 2021
- Facility
- Country Window Zambia