Photos: CrossBoundary Energy\
African renewable energy provider CrossBoundary Energy secured a $140 million loan from South Africa’s Standard Bank, Africa’s largest lender by assets, to finance the company’s portfolio across 18 African countries.
The loan is part of a planned $300 million package. CrossBoundary’s solutions target corporate clients in the telecoms, mines and consumer goods manufacturing sectors. Unilever, Diageo, and Heineken are among its clients in Nigeria, Ghana and Kenya. The company has 330 MW of solar and wind assets, and 178 MWh of battery energy storage solutions.
Its largest project, opened in August, is a solar and wind generation facility in a Madagascan mine owned by a subsidiary of mining giant Rio Tinto. Its capacity is being expanded with a new wind farm consisting of 19 turbines.
