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Zambia is emerging as one of Africa’s most bankable power markets, with energy-focused partnerships enabling predictable, investable electricity systems for the continent’s mining expansion, GreenCo Power Services Ltd said on Thursday at the 2026 Investing in African Mining Indaba.
Speaking at the conference, held under the theme “Stronger Together: Progress Through Partnerships,” GreenCo Director, Wezi Gondwe, said the company was helping align generation, settlement and commercial certainty to attract private capital to Zambia’s power sector.
“For mines, utilities and financiers, the bankability question is simple: Can power be delivered, and can settlement be relied upon? When those fundamentals align, capital moves,” Gondwe said on the sidelines of Zambian President Hakainde Hichilema’s address.
The company said Zambia had secured 125 megawatts (MW) of power during the 2024 energy crisis through a collaborative arrangement involving ZESCO, GreenCo, Stanbic Bank, and mining and industrial customers. It said of this, 85 MW strengthened the national grid, while 40 MW ensured energy security for mines and industrial users.
It said that the 100 MW Chisamba Solar project, which reached financial close in May 2025, demonstrated the bankability of GreenCo’s model.
GreenCo said the project, developed by ZESCO’s subsidiary KNBEPC, was backed by US$71.5 million in commercial debt from Stanbic Bank Zambia and anchored by a 13-year GreenCo Power Purchase Agreement (PPA).
In addition, a €50 million liquidity and credit guarantee framework provided by Impact Fund Denmark and the European Commission de-risked GreenCo PPAs and supports further renewable projects and regional power trading.
Dr. Chikoma Kazunga, GreenCo’s head of business development, said the model offered operational flexibility and financial innovation, allowing faster renewable deployment, reduced counterparty risk, and regional trading opportunities.
The company said its structure positions Zambia and the Southern African region toward a future where reliable energy becomes a competitive advantage for mining and industrial growth.
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