CrossBoundary Energy receives US$16.5m commitment from ARCH EM Partners

AFRICA – ARCH Emerging Markets Partners’ Africa Renewable Power Fund (ARCH ARPF) has announced its commitment to fund CrossBoundary Energy (CBE) with up to US$16.5 million in equity funding. This fund is to develop and finance new Commercial & Industrial (C&I) solar assets that will provide businesses across Africa with access to cheaper, cleaner power. This commitment represents the first stage of a larger transaction under finalisation by CrossBoundary Energy to scale solar for business across Africa. The announcement comes as the International Energy Agency (IEA) predicts a strong acceleration…

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