Africa GreenCo, a leading renewable energy trader focused on Africa, has secured an additional USD 11.5 million equity investment from its existing shareholders, the Private Infrastructure Development Group (PIDG) and the Impact Fund Denmark (IFDK, formerly IFU).
The latest investment, delivered through PIDG’s project development arm InfraCo, complements earlier PIDG support for Africa GreenCo that included technical assistance, project development, and guarantee capabilities.
Africa GreenCo has been actively trading for less than five years, having gained its membership of the Southern Africa Power Pool (SAPP) in late 2021, which complements its licenses in Zambia, Zimbabwe, Namibia, and South Africa. Since then, growth has been significant, with over 1.4 TWhs traded so far this year.
“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,” said GreenCo Founder and Group CFO, Pug Bennet.
As a bankable off taker for renewable energy Independent Power Producers (IPPs), Africa GreenCo increases energy security and curbs emissions by balancing clean energy services across multiple markets. It also strengthens regional integration through its role as a full market participant in each of SAPP’s competitive markets.
“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.
Sanlam equity investment deal
The recent transaction follows a recent equity investment from Sanlam Alternative Investments, one of Africa’s largest institutional investors, bringing the total third close fund raise to USD 21.5 million.
“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. By scaling its successful model to rapidly transform the region’s renewable energy landscape, Africa GreenCo’s work aligns well with PIDG’s mandate of mobilising infrastructure finance to address the urgency of the climate crisis and promote sustainable economic development,” said PIDG Head of Business Development (Africa) for InfraCo, Omar Jabri.
According to Sanlam, the equity investment in GreenCo extends more than a decade of infrastructure investment across Africa. It backs the market architecture needed for 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. That transition will only scale when the continent has access to its own creditworthy, commercially bankable market infrastructure.” said Mark Moorhouse, Executive Head of Infrastructure Finance at Sanlam Alternative Investments.
