African GreenCo is a transformative renewable energy model that aims to attract private investment into energy generation in Sub-Saharan Africa by mitigating the credit risks associated with energy offtakers. GreenCo has benefited from multiple types of blended capital over the years, including several rounds of grant funding to complete feasibility and proof of concept work, as well as concessional debt from DFIs. Key insights from this case study include:
- A tenacious team can be paramount to the success of new business models.
- Grants can offer essential support during critical junctures for new start-up business models, when facing “death valley”.
- Identifying a supportive national government with an open regulatory environment can be instrumental to the success of new business models that require public sector buy-in.
- Truly transformative models take time to launch.
