PIDG, IFDK invest US$11.5 million in Africa GreenCo

Africa GreenCo has announced an additional US$11.5 million investment from its existing shareholders, the Private Infrastructure Development Group (PIDG) and the Impact Fund Denmark (IFDK), to support the growth of its renewable energy trading platform in Southern Africa. The…

Africa GreenCo has announced an additional US$11.5 million investment from its existing shareholders, the Private Infrastructure Development Group (PIDG) and the Impact Fund Denmark (IFDK), to support the growth of its renewable energy trading platform in Southern Africa.

 

The latest investment, delivered through PIDG’s project development solution, InfraCo, brings Africa GreenCo’s total third-close fundraising to US$21.5 million following a recent investment by Sanlam Alternative Investments.

 

Africa GreenCo is a regional energy trader and intermediary off-taker that supports renewable energy Independent Power Producers by providing bankable power purchase arrangements and payment security.

 

The company has been actively trading for less than five years after joining the Southern Africa Power Pool (SAPP) in 2021.

 

It is licensed to operate in Zambia, Zimbabwe, Namibia and South Africa, and has traded more than 1.4 Terawatt-hours of electricity so far this year.

 

Africa GreenCo said its model is aimed at strengthening energy security, reducing emissions and supporting regional power integration by facilitating the movement of clean energy across multiple markets.

 

Founder and Group Chief Financial Officer, Pug Bennet, said the additional investment demonstrates strong confidence from both new and existing shareholders in the company’s business model.

 

Mr Bennet explained that the increased financial strength, together with guarantee facilities provided by GuarantCo and the European Commission under its EFSD+ programme, will enable Africa GreenCo to further support the region’s energy transition.

 

Meanwhile, IFDK Managing Director and Co-Head of Green Energy and Infrastructure, Thomas Hougaard, said the institution is proud to have supported Africa GreenCo since its first capital raise.

 

Mr Hougaard said IFDK’s support in 2025 helped mobilise a 50-million-Euro guarantee facility, enabling the company to attract additional private capital and accelerate the energy transition in Southern Africa.

 

And PIDG Head of Business Development for Africa at InfraCo, Omar Jabri, observed that the latest investment will enhance Africa GreenCo’s capacity to scale its renewable energy model across the region.

 

Mr Jabri said the company’s work aligns with PIDG’s mandate of mobilising infrastructure finance to address climate change while promoting sustainable economic development.

 

Sanlam Alternative Investments Executive Head of Infrastructure Finance, Mark Moorhouse, said Africa GreenCo plays an important role in creating the market infrastructure required to deliver new power generation.

 

Mr Moorhouse revealed that Sanlam’s investment is consistent with its long-term commitment to infrastructure development and supporting Africa’s transition towards reliable and increasingly low-carbon energy.

 

Africa GreenCo further noted that the additional investment and guarantee support will strengthen its liquidity and risk-bearing capacity.

 

It added that this will enable it to support up to 900 megawatts of renewable energy power purchase agreements and provide the payment security which is needed to make renewable energy projects bankable.

 

The development comes at a time when demand for electricity across Africa continues to grow, increasing the need for energy projects capable of attracting private-sector investment while addressing climate change.