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Standard Bank, a commercial bank based in Johannesburg, South Africa, is providing a $20 million credit facility to CrossBoundary Energy (CBE). The company finances, builds and leases solar photovoltaic power plants to commercial and industrial (C&I) customers.
Good news for CrossBoundary Energy (CBE). The investment company is securing $20 million as part of a $50 million construction credit facility it has agreed with the Energy Inclusion Facility (EIF), a multi-donor financing facility managed by Cygnum Capital.
The $20 million credit facility provided by Standard Bank will support the development of CBE’s activities. In Africa, mainly south of the Sahara, the Nairobi, Kenya-based company finances, builds and operates grid-connected and off-grid solar power plants for commercial and industrial (C&I) customers.