Africa GreenCo, primarily based in Zambia, has acquired $15.5 million to increase its enterprise operations

Africa GreenCo (GreenCo), a Zambian firm, has acquired $15.5 million in fundig from InfraCo Africa, the Danish Funding Fund for Creating Nations (IFU), and the EU-funded Electrification Financing Initiative (EDFI ElectriFi).

GreenCo Energy Providers, located in Lusaka, was based in 2020 with backing from IFU and InfraCo Africa (by means of its sister firm, PIDG Technical Help).

“We’re extraordinarily grateful to our buyers and companions from the Authorities of Zambia, ZESCO, the SAPP group, and the prevailing SAPP members for his or her belief and assist of revolutionary new enterprise fashions similar to GreenCo,” stated GreenCo’s Chief Funding Officer, Pug Bennet. “We stay up for working alongside the trade leaders because the market grows from energy to energy.” We at the moment are able to draw substantial personal sector funding in renewable power whereas additionally bettering the nationwide and SAPP energy markets.”

GreenCo’s marketing strategy entails shopping for electrical energy from renewable impartial energy producers (IPPs) and promoting it to utilities, personal sector off-takers (i.e. industrial and industrial customers), and aggressive markets within the Southern African Energy Pool (SAPP).

GreenCo will be capable to assist a portfolio of as much as 110MW of renewable power with the brand new funding, which is able to embody working capital and a Liquidity Buffer.


Learn extra on Tech Gist Africa:

Manara, an edtech startup, has raised $3 million in a pre-seed funding spherical

GoMetro, a South African logistics startup, has raised a $1 million seed spherical to assist it increase

HAVAC, a South African enterprise capital agency, has closed a $20 million fund for early tech investments in Africa

The put up Africa GreenCo, primarily based in Zambia, has acquired $15.5 million to increase its enterprise operations appeared first on Techgist Africa | Africa Main Tech Information, Critiques and Suggestions.


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