In order to support the construction of a 25 megawatt solar photovoltaic power plant in Zambia, the Board of Directors of the African Development Bank Group has approved a $8 million concession loan.

The Ilute power plant will advance Zambia's sustainable development and help the country exploit its renewable energy potential. This project aims to deal with increasing costs related to the Covid-19 pandemic and other challenges. This project will serve as a pilot for GreenCo's energy aggregator model as part of access to the open grid of the Zambia Electricity Supply Corporation Limited (ZESCO). Acting as an intermediary, GreenCo will buy the electricity produced under a 25-year power purchase agreement and sell it on the Southern African Power Pool Day-Ahead Market. The financing for the Ilute power plant will come from the Fund for Sustainable Energy in Africa (SEFA), a multi-donor special fund managed by the African Development Bank