Business Reporter
Africa GreenCo, a leading regional energy trader and intermediary off taker in Africa, has announced an additional investment of USD 11.5 million from its current shareholders—the Private Infrastructure Development Group (PIDG) and Impact Fund Denmark (IFDK) (formerly IFU).
This follows the recent participation of new private-sector investor Sanlam Alternative Investments, one of Africa’s largest institutional investors, bringing the total amount raised in the third close to US$ 21.5 million.
This latest funding, delivered through PIDG’s project development arm InfraCo, builds on previous PIDG support provided through technical assistance, project development, and guarantee services.
Having been active for nearly five years, Africa GreenCo secured membership in the Southern Africa Power Pool (SAPP) in late 2021, complementing its licenses across Zambia, Zimbabwe, Namibia, and South Africa. The company has seen significant growth, trading over 1.4 TWh of power so far this year.
As a reliable off taker for renewable energy Independent Power Producers (IPPs), Africa GreenCo enhances energy security, reduces emissions by balancing clean energy across multiple markets, and promotes regional integration by participating fully in SAPP’s competitive markets.
Founder and Group CFO Pug Bennet commented on the announcement, saying, “There is no stronger testament to the faith in a business than to see investment from both new and existing shareholders. The additional financial strength provided by these investments, along with the other facilities provided by GuarantCo and the European Commission under their EFSD+ programme, will allow GreenCo to further support the energy transition in the region and act as a key stakeholder in viable energy infrastructure.”
Thomas Hougaard, Managing Director and Co-Head of Green Energy and Infrastructure at IFDK, said, “IFDK is a proud shareholder of Africa GreenCo, having supported the company since its first capital raise. In 2025, IFDK further supported Africa GreenCo by helping mobilise a EUR 50 million guarantee facility, enabling the company to attract additional private capital by welcoming Sanlam to the table, and accelerate the energy transition in Southern Africa.”
PIDG’s Head of Business Development (Africa) for InfraCo, Omar Jabri, added, “Alongside the long-time partners at IFDK, we are pleased to welcome Sanlam, a company which brings private-sector capital and deep institutional expertise, and to enhance our own support for the next phase of Africa GreenCo’s growth.”
He emphasized that by scaling its successful model to transform the region’s renewable energy landscape, Africa GreenCo’s work aligns with PIDG’s mission to mobilize infrastructure finance to address the climate crisis and foster sustainable economic development.
Mark Moorhouse, Executive Head of Infrastructure Finance at Sanlam Alternative Investments, stated, “Africa GreenCo occupies the part of the energy value chain that determines whether new power generation is ultimately delivered. For us, this is a natural extension of more than a decade of infrastructure investment across the continent: backing the market architecture that allows Africa to finance its own energy transition on commercial terms, while supporting the reliable, increasingly low-carbon power that economic growth depends on. The transaction with Africa GreenCo is aligned with our ambition to become the premier sustainability-led impact investor globally and reinforces our commitment to Africa’s energy transition.”
With electricity demand surging rapidly across Africa, governments face the challenge of developing a strong pipeline of energy projects that attract private investment while addressing the climate crisis. Africa GreenCo’s model acts as a market-enabling renewable energy platform supporting national utilities and energy buyers alike.
Supported by guarantee arrangements from the European Commission-funded EFSD+ programme and PIDG company GuarantCo, along with the recent investments, Africa GreenCo’s liquidity and risk capacity will be strengthened. This enables the company to back up to 900MW of renewable energy power purchase agreements (PPAs) and provide the payment security necessary to make these projects bankable.
