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GreenCo has reaffirmed its commitment to advancing sustainable energy solutions and strengthening the regional power market through innovative financing and strategic partnerships.
GreenCo Chief Commercial Officer, Cathy Oxby, said that the company remained focused on applying innovation and creativity to tackle Africa’s energy challenges.
She was speaking in South Africa, where GreenCo received two awards, the Market Impact Award and the Energy Transition Deal of the Year for Africa.
Oxby stated that the award recognized its firm’s innovative approach to addressing Zambia’s energy crisis.
The firm reported to have facilitated a US$55.5 million limited recourse financing arrangement with Stanbic Bank Zambia and Standard Bank of South Africa, enabling prepayment for power imports to mitigate drought-related electricity shortages.
“This pioneering model ensured a stable energy supply for our key industrial customers, she said.
It also provided additional power for households and small businesses, helping reduce load shedding.
Zambia’s High Commissioner to the UK, Macenje Mazoka, praised the firm’s achievements, calling them a testament to the strong British-Zambian business ties.
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“This recognition highlights the impact of our bilateral relations and how collaborative efforts drive sustainable development and economic growth,” she said.
Stanbic Bank Zambia’s Head of Corporate and Investment Banking, Helen Lubamba, said the US$55.5 million emergency power import facility with GreenCo demonstrated that collaborative partnerships could help Zambia meet its productivity targets, particularly in the mining sector.
The IJGlobal Awards celebrate excellence in energy and infrastructure finance, recognizing organizations and deals that reportedly drive market innovation and have a lasting impact.
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