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Lusaka, Zambia 101–250 employees africagreenco.com
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GreenCo Power Services
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About GreenCo Power Services

Company Overview

Name

GreenCo Power Services, the Lusaka-based operating company of Africa GreenCo, a privately held firm backed by institutional infrastructure investors including IFU, InfraCo Africa / PIDG, and GuarantCo

Headquarters

Lusaka, Zambia

Founded

2018

Size

Approximately 80 employees across 4 country operations (source: africagreenco.com, linkedin.com)

What They Do

GreenCo Power Services operates as a regional energy aggregator, intermediary offtaker, and trader within Southern Africa, focusing on purchasing power from renewable independent power producers (IPPs) and reselling it to utilities, commercial and industrial offtakers, national power trading markets, and the Southern African Power Pool (SAPP) (source: linkedin.com, procurement.africagreenco.com). Their business model emphasizes bankable power purchase agreements (PPAs), short-term trading flexibility, and credit-risk mitigation, enabling them to secure alternative buyers or leverage SAPP short-term trading to reduce purchaser-default risk (source: africagreenco.com). The company’s technology focus centers on advanced trading systems, energy production forecasting, and cross-border market access rather than owning physical generation assets (source: procurement.africagreenco.com). GreenCo positions itself as the only regional buyer and trader of renewable energy in Southern Africa, offering tailored PPAs for IPPs and customized solutions for corporate offtakers, targeting renewable IPPs, utilities, commercial and industrial customers, and competitive electricity markets connected to SAPP across Zambia, South Africa, Namibia, Zimbabwe, and with planned expansion into the Democratic Republic of Congo (source: pidg.org, linkedin.com).

Projects & Track Record

GreenCo’s flagship project is the 100 MW Chisamba Solar PV plant in Zambia, which achieved financial close in 2025 through a long-term PPA involving KNBE Corporation Ltd, a subsidiary of ZESCO Limited, Stanbic Bank Zambia, and Africa GreenCo. This project is recognized as the largest grid-connected solar plant in Zambia and was financed entirely by commercial debt without sovereign guarantees (source: linkedin.com). In Namibia, GreenCo Renewable Energy Services (Pty) Limited secured an export licence from the Electricity Control Board in September 2023, marking a significant step toward integrating Namibian IPPs into the Southern African Power Pool and expanding cross-border trading activities (source: africagreenco.com). The company operates across Zambia, Zimbabwe, Namibia, South Africa, and is entering the DRC market, focusing on buying power from renewable generators and selling into utility, corporate, and market channels without owning large-scale generation assets itself (source: procurement.africagreenco.com, africagreenco.com). The company has completed multiple funding rounds, raising USD 1.5 million in October 2020, USD 15.5 million in May 2022, and securing a USD 40 million facility commitment from the U.S. International Development Finance Corporation in October 2024 to support its creditworthiness and liquidity (source: africagreenco.com).

Recent Developments

In October 2024, GreenCo secured a USD 40 million facility commitment from the U.S. International Development Finance Corporation, enhancing its creditworthiness and ability to backstop payment obligations to independent power projects across Zambia, South Africa, and Namibia, positioning it as a reliable energy aggregator and trader for IPPs seeking alternatives to financially strained utilities (source: africagreenco.com). In 2026, GreenCo joined The Africa Debate 2026 as a Silver Partner, highlighting its regional trading model across the Southern African Power Pool and its backing by GuarantCo, InfraCo Africa, and IFU (source: linkedin.com). The company also celebrated the financial close of the 100 MW Chisamba Solar PV project and announced its active presence in Zambia, Zimbabwe, South Africa, Namibia, and upcoming entry into the DRC market (source: linkedin.com, linkedin.com). A September 2026 PIDG portfolio update noted PIDG’s support through technical assistance, equity, guarantees, and a recent USD 10 million private-sector investment to strengthen GreenCo’s liquidity buffer and risk-bearing capacity (source: pidg.org).

Working There

GreenCo Power Services offers roles primarily in energy trading, business development, strategy, finance, operations, and regional market development, reflecting its intermediary and trading platform business model rather than project development or asset ownership (source: linkedin.com, africagreenco.com). The leadership team includes co-founders Cathy Oxby (CCO) and Pug Bennet (CIO), along with Dr. Pius Kasolo as strategy director, highlighting experienced management guiding the company’s regional expansion (source: linkedin.com). Staff from South Africa, the DRC, and Zimbabwe regularly collaborate at the Lusaka headquarters, underscoring a multi-country organizational structure and culture of regional teamwork (source: linkedin.com). The company emphasizes collaboration with utilities, IPPs, and investors, with commercial, trading, legal, finance, and market operations functions central to its business activities (source: procurement.africagreenco.com).

Last updated Sep 27, 2026 · Report an issue

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