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Africa GreenCo, a regional energy trader and intermediary off-taker, has secured an additional $11.5 million investment from existing shareholders Private Infrastructure Development Group (PIDG) and Impact Fund Denmark (IFDK).
The investment follows the recent entry of new private-sector investor Sanlam Alternative Investments, one of Africa’s largest institutional investors, bringing the total third close of the fundraise to $21.5 million.
This latest investment comes from PIDG’s project development arm, InfraCo, and builds on earlier support for Africa GreenCo, which included technical assistance and project development.
“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,” said Pug Bennet, founder and group CFO of Africa GreenCo.
Africa GreenCo has been trading for nearly five years and became a member of the Southern Africa Power Pool (SAPP) in late 2021, with licenses in Zambia, Zimbabwe, Namibia, and South Africa.
This year, the company has traded over 1.4 TWh of energy. As a reliable buyer for renewable energy producers, Africa GreenCo enhances energy security, reduces emissions, and supports regional integration by participating in SAPP’s 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.
Support from the PIDG company GuarantCo, along with additional investments from the third close, will boost Africa GreenCo’s financial stability. This will allow the company to back renewable energy projects of up to 900MW by providing necessary payment security to make them bankable.
“Alongside our 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. 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 Omar Jabri, PIDG head of business development (Africa) for InfraCo.
