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GreenCo raises $21.5 million to expand regional power trading
Africa GreenCo says it has raised US$21.5 million in its latest funding round, including US$11.5 million from existing shareholders, strengthening the company’s capacity to trade electricity and support renewable power projects across Southern Africa. The third-close fundraising includes additional investment from the Private Infrastructure Development…
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Africa GreenCo says it has raised US$21.5 million in its latest funding round, including US$11.5 million from existing shareholders, strengthening the company’s capacity to trade electricity and support renewable power projects across Southern Africa.
The third-close fundraising includes additional investment from the Private Infrastructure Development Group (PIDG) and Impact Fund Denmark (IFDK), following the entry of Sanlam Alternative Investments as a new private-sector investor.
The company said Thursday that the new capital comes as GreenCo scales up electricity trading through the Southern Africa Power Pool (SAPP), with the company reporting more than 1.4 terawatt-hours of electricity traded so far this year.
“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,” Founder and Group Chief Financial Officer Pug Bennet said.
The latest funding builds on a 50 million euro guarantee facility that IFDK helped mobilise for GreenCo in 2025, which the company said helped it attract additional private capital.
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“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,” said Thomas Hougaard, Managing Director and Co-Head of Green Energy and Infrastructure at IFDK.
PIDG said its additional investment would support GreenCo’s next phase of expansion.
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