Announcing the execution of a Memorandum of Understanding between ZESCO Limited and GreenCo Power Storage Limited
26 Feruary 2024: Africa GreenCo Group, operating through its Zambian subsidiary GreenCo Power Storage Limited (collectively referred to as GreenCo), is pleased to announce the successful execution of a Memorandum of Understanding (MOU) for a Battery Energy Storage Systems (BESS) project in Zambia with ZESCO Limited (ZESCO). The MOU was formally signed by ZESCO's Managing Director, Engineer Victor Benjamin Mapani, and GreenCo's CEO, Mrs. Ana Hajduka-Shields, on 26th February 2024.
This public-private collaboration on BESS deployment in Zambia signifies a significant milestone in advancing the objectives outlined in the recently launched Zambia Integrated Resource Plan (IRP). The MOU, by fostering collaboration and aligning with the IRP's goals, directly contributes to realizing a sustainable and diversified power future for Zambia. It also represents a substantial step towards enhancing the country's energy infrastructure and facilitating the integration of renewable energy sources into the national grid.
Discussing the partnership, ZESCO's Managing Director, Eng. Victor Mapani, expressed enthusiasm with the collaboration, stating, "We are pleased to partner with GreenCo Power Storage Limited in this endeavor to explore the integration of battery energy storage systems into Zambia's power infrastructure. This initiative aligns with our vision of delivering reliable and sustainable electricity services to the people of Zambia."
Ana Hajduka, CEO of GreenCo, echoed similar sentiments, emphasizing the strategic significance of the partnership in advancing the objectives outlined the IRP. "Our collaboration with ZESCO Limited marks a pivotal moment for energy innovation in the Southern African region. By synergizing our efforts, we're actively contributing to the realization of the IRP's vision, particularly in ensuring a smooth integration of renewable energy sources into the national grid."
If you would like to find out more about our project and engage with our team please get in touch with us at bd@africagreenco.com or info@africagreenco.com.
About GreenCo, and ZESCO
About ZESCO
ZESCO Limited is a national power utility wholly owned by the Government of the Republic of Zambia that supplies electricity and energy solutions within Zambia and the Sub Region. ZESCO’s operations cut across the electricity value chain being generation, transmission, distribution, and supply of electricity. The Corporation owns and operates a number of hydropower stations with a combined power generating capacity of circa 2,900 Megawatts. For more information please see: https://www.zesco.co.zm/
About GreenCo
GreenCo acts as a renewable energy buyer and trader purchasing power from renewable energy generators and selling that electricity to utilities and private sector offtakers (i.e. commercial and industrial users), national power trading markets and markets of the SAPP. GreenCo will mitigate the risk of purchaser default through an ability to secure alternative buyers or through short-term trading on the SAPP electricity markets. Through its activities, GreenCo will also increase the supply of, and demand for, finance for energy projects, and mobilise private sector capital more quickly towards critical and transformative capacity addition. For more information please see: https://africagreenco.com/