Browsing: CrossBoundary Energy

• CrossBoundary Energy has completed a US$40 million equity investment from Norfund and KLP
• The deal will allow CrossBoundary Energy to further scale its investments in renewable energy solutions for commercial and industrial businesses across Africa
• The $40M commitment is a continuation of Norfund’s and KLP’s earlier investments in the C&I sector and endorses the scale and maturity of the distributed generation sector in Africa

Renewable energy systems developer CrossBoundary Energy has completed a US$40 million equity investment from Norfund and KLP.

Norfund is the Norwegian Investment Fund for developing countries, while KLP is Norway’s largest pension company.

According to the partners, the commitment will allow CrossBoundary Energy to further scale its investments in renewable energy solutions for commercial and industrial businesses across Africa.

The $40M commitment is a continuation of Norfund and KLP’s earlier investments in the C&I sector and endorses the scale and maturity of the distributed generation sector …

Unilever Tea Kenya and CrossBoundary Energy have commissioned a 619 kWp solar plant at the company’s Kericho tea factory. This is the first on-site solar installation for a Unilever facility in Sub-Saharan Africa, and it brings the company closer to its goal of sourcing 100% of total energy from renewables by 2030.

With the addition of solar PV to its existing hydroelectric and biomass resources, over 90% of Unilever Tea Kenya’s energy needs will now be met with clean energy. At the same time, Unilever will save money on its electricity costs. Over 15 years the solar project will avert nearly 10,000 tonnes of carbon emissions.

CrossBoundary Energy sells power from the solar plant to Unilever via an innovative 15-year power purchase agreement. Only now that the system’s installation and testing is complete will Unilever begin paying for solar electricity, and CrossBoundary Energy will continue to manage and finance future …