Africa’s $45M Solar Investment Expands

Key Figures & Findings: The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has committed $45 million to CrossBoundary Energy (CBE) to expand commercial and industrial renewable energy solutions across Africa. This funding is part of a larger $300 million senior debt facility led by The Standard Bank of South Africa, which recently underwrote $141.5 million. Esther Chan, CFA, Director at Ninety One, highlighted that this is EAAIF’s first major renewable energy investment in Africa, accelerating clean energy adoption for industries.

Statistics & Insights: The investment will enable CBE to expand solar, wind, and battery energy storage systems across key African markets, reducing reliance on costly fossil fuel backup generators. The facility aims to increase access to affordable and reliable energy, cutting carbon emissions by an estimated 600,000 metric tons annually while increasing energy security.

Future Implications: As demand for energy-as-a-service rises, this funding could enable CBE to provide clean, cost-effective power for mining, telecommunications, and industrial sectors.

Source: Solar Financed Africa