- Standard Bank injects $20 million into CrossBoundary Energy.
- CBE focuses on financing solar projects for commercial and industrial clients in Africa.
Standard Bank, based in Johannesburg, South Africa, provides a $20 million credit facility to CrossBoundary Energy (CBE). This supports CBE’s work in financing, building, and leasing solar power plants for commercial and industrial customers in Africa.
The $20 million comes as part of a $50 million construction credit facility arranged with the Energy Inclusion Facility managed by Cygnum Capital. CBE recently completed a 2.69 megawatt (MW) solar project at the Molo graphite mine in Madagascar, operated by NextSource Materials. The project includes a 1.37 MWh battery storage system and a 3.1 MW diesel generator. This reflects CBE’s commitment to advancing renewable energy in Africa.