Solar specialists Solarcentury and Energy investors CrossBoundary Energy have joined forces to offer financed solar solutions to a select portfolio of commercial and industrial customers operating in Africa.
The deal will see Solarcentury and CrossBoundary finance and advice solar businesses to deliver market ready viable solar solutions in Africa.
According to Dr Daniel Davies, Africa Director for Solarcentury, “Solarcentury has been at the forefront of designing and building commercial scale solar PV plants in Sub-Saharan Africa. We have built the majority of commercial and industrial Solar PV plants in East Africa and we have seen businesses make considerable savings from day one of energising the PV plant. We now bring our substantial technical expertise and in partnership with CrossBoundary Energy, are able to provide a unique financing offer for any business in Africa.”
The two firms aim to bring African businesses cheaper and cleaner power which is cheaper and available. CrossBoundary Energy portfolio includes the first commercial power purchase agreements in Kenya, Rwanda, and Ghana, and its project pipeline includes commitments from leading Fortune 500 multinationals operating in Africa.
Some of its partners include the US Government Power Africa Initiative, the Shell Foundation, the Overseas Private Investment Corporation (OPIC), the Blue Haven Initiative, Treehouse Investments, Ceniarth and multiple other private investors in the CrossBoundary Energy I fund. CBE also developed SolarAfrica, a platform that allows local solar developers to offer a fully financed power-purchase agreement through which CrossBoundary will finance projects between 200 kilowatts and 5 megawatts.