CrossBoundary Energy, a Kenyan renewable energy firm, has received an additional 4.7 billion shillings in funding from Norfund and Norwegian Pension Fund-KLP.
The new funding for the Nairobi-based company will allow it to expand its investments in renewable energy solutions for commercial and industrial businesses across Africa.
CrossBoundary Energy is a leading developer, owner, and operator of distributed renewable energy solutions for businesses across Africa, offering lower-cost and cleaner energy through power purchase and lease agreements.
CrossBoundary Energy offers its corporate customers tailored, fully financed renewable energy solutions, allowing them to avoid upfront capital expenditure and technical risks while still benefiting from cheaper, cleaner, and more reliable power.
The energy firm is currently delivering a $188 million portfolio of projects for 30 corporate customers across 14 African countries, including 150 MWp of solar PV assets, 50 MWh of battery energy storage assets, and 12 MW of wind assets.
CrossBoundary Energy is the preferred renewable energy provider for a number of market-leading African companies, including Unilever, Diageo, Rio Tinto, Heineken, and AB InBev.
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