Europe Puts €50m on the Table to Unleash 500 MW of Southern Africa Solar and Wind.

GreenCo will use a new €50 million European Union guarantee to sign long-term power-purchase deals with private solar and wind farms across Zimbabwe, Zambia, South Africa, and Namibia. The backing, provided by Impact Fund Denmark and the EU's EFSD+ facility, removes the off-taker risk that has deterred banks from investing in African renewables. http:// https://whatsapp.com/channel/0029VaJBte43bbV50PSJqU20

This will allow GreenCo to promise secure payments to developers without waiting for cash-strapped state utilities. The guarantee is expected to unlock roughly 500 MW of fresh capacity, enough to supply 350,000 homes and displace 600,000 tonnes of CO₂ each year.

Projects can now reach financial close faster, cutting regional electricity shortages that cost SAPP countries an estimated 2% of GDP annually. The structure keeps liabilities off public books and instead wraps GreenCo's contractual obligations, making them bankable in euros.

GreenCo's co-founder, Cathy Oxby, says the goal is to prove African power markets can attract commercial lenders on commercial terms, not aid. The first draw-down is slated for Q2 2026, with GreenCo already in final negotiations with three Zimbabwean solar farms totalling 120 MW and a Namibian wind cluster of 80 MW.

If the model scales, the EU has signalled it could double the facility to €100 million, opening the door for miners, factories, and data centres to buy directly from renewable traders instead of relying on coal-heavy national grids.