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Mini-grids in Africa: CrossBoundary Access, SEFA and AfDB commit to invest $10 million in financing

21/09/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Crossboundary Access has announced a new funding commitment of $10 million from the AfDB Group's Sustainable Energy Fund (SEFA). One of the first mixed financing mechanisms for mini-grids

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The majority of the population of sub-Saharan Africa without access to electricity lives in rural areas that national electricity grids generally do not cover. For this fact, Lynne Wesonga, Associate Director é of CrossBoundary Access indicated that “CrossBoundary Access is fi style="font-family:" Bookman Old Style”, "serif">è re de s associer 'At SEFA et la In Bad to provide clean energy to rural people in Africa. This $10 million investment demonstrates the growing maturity of the mini-grid sector and its ability to attract high-impact institutional capital

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Crossboundary Access wants to mobilize $150 million over the next three years to provide clean energy to one million people in Africa through its mini-grids that combine solar energy and batteries.

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