Africa GreenCo (GreenCo), a leading renewable energy trader and aggregator across Southern Africa, has been named winner of the Solar Deal of the Year for Africa at the IJGlobal Awards 2025. The accolade recognises the 100MW Chisamba Solar PV Project in Zambia, the largest grid-connected solar development in the country’s history and the biggest outside South Africa in sub-Saharan Africa. The award highlights innovation, financing excellence, and transformative market impact in the energy sector, celebrating transactions that set new benchmarks for the continent. The recognition reflects GreenCo’s ability to structure commercial, scalable, and sustainable energy deals that deliver significant value to stakeholders while supporting national energy security. The Chisamba project represents a milestone in Zambia’s transition toward diversified, renewable energy sources.
Africa GreenCo Managing Director for Zambia, Wezi Gondwe, emphasized that the award reflects the innovative financing and collaborative engagement of stakeholders that enabled the project to close in record time. The project was developed by Kariba North Bank Extension Power Corporation (KNBEPC), a subsidiary of ZESCO, and reached financial close in May 2025 with $71.5 million in commercial debt financing from Stanbic Bank Zambia. The financing was structured without sovereign guarantees, demonstrating a replicable model for large-scale renewable energy projects in the region. Gondwe noted that GreenCo’s approach integrates the needs of utilities, developers, and consumers to deliver long-term value, positioning Zambia as a leader in clean energy infrastructure development. By mobilizing commercial capital at scale, the project strengthens energy supply for the mining sector and frees ZESCO’s electricity for domestic consumption.
The Chisamba Solar PV Project also showcases strong collaboration with EPC contractor Power China, whose early mobilisation ahead of financial close was crucial to achieving timely commercial operations. Under GreenCo’s Power Supply Agreement with First Quantum Minerals (FQM), the solar energy generated is integrated with other sources from the Southern African Power Pool, delivering reliable 24/7 renewable power while displacing equivalent volumes of energy that ZESCO would otherwise supply to FQM. This structure enhances grid stability and allows additional power to be distributed to households and businesses. KNBEPC CEO Eng. Boyd Kanchela highlighted that the project sets a precedent for Zambian public developers to attract commercial financing independently, reinforcing the credibility of local renewable energy initiatives.
ZESCO Managing Director Eng. Justin Loongo praised the project for adding 100MW of clean capacity to the national grid without imposing financial obligations on the government or the utility. Stanbic Bank Zambia also underscored the significance of the deal, marking its largest renewable energy project financing in the country and demonstrating the role commercial banks can play in supporting sustainable energy infrastructure. The recognition from the IJGlobal Awards builds on GreenCo’s prior international accolades, including the Market Impact Award and Energy Transition Deal of the Year for Africa in 2024, highlighting its growing influence in shaping bankable renewable energy projects in Southern Africa. The project exemplifies a model for public-private partnerships that can accelerate energy transition while maintaining commercial viability.
The success of the Chisamba Solar PV Project reinforces Africa GreenCo’s role as a key architect of renewable energy solutions in the region. By combining innovative financing, strategic partnerships, and operational excellence, the project contributes to Zambia’s energy diversification and supports broader economic growth. It demonstrates that large-scale solar projects can be delivered efficiently, sustainably, and with measurable social and economic benefits. As Zambia continues to expand its renewable energy portfolio, GreenCo’s model offers a blueprint for scaling clean energy infrastructure across Southern Africa. The IJGlobal award affirms that strategic collaboration, innovative structuring, and commercial rigor are central to building a resilient, sustainable energy future for the continent.