In large parts of southern Africa, businesses and homes are plagued by power outages. Many places in Zambia have less than three hours of power per day. It slows down economic growth and development in the country.
Africa GreenCo buys power from energy suppliers and sells it to utilities and local businesses. In Africa, thousands of megawatts of solar and wind projects are ready to be built, but they are rarely built, because of an uncertainty about who will buy the power.
With the investment, Africa GreenCo will become an even more stable power trader in the region, bringing more reliable and renewable power across Africa.
This investment was made possible with funding from the European Union.
