CrossBoundary signs Africa's largest mini-grid project finance transaction

CrossBoundary Energy Access (CBEA), a leading mini-grid project financier in Africa, has committed to investing in mini-grid projects built by ENGIE Energy Access, the continent's leading provider of energy access solutions. CBEA has committed to investing $60 million in ENGIE mini-grid projects. With the aid of this deal, a portfolio of mini-grids will be constructed, providing over 150,000 people with their first access to power.

After ENGIE develops a pipeline of mini-grids to be constructed over the next four years, CBEA will finance and own all development and construction activities. ENGIE will provide the mini-grids' long-term management and maintenance services to ensure that residential, commercial, and industrial consumers receive clean, reliable electricity and high-quality, customer-focused services.

ENGIE sees immense potential in the development of the mini-grid industry in Nigeria, based on its track record in electricity access across Africa. The agreement symbolizes success in the African mini-grid arena, as it will expand energy access to off-grid communities, thereby fostering economic development and enhancing the socio-economic welfare of the population. ‌‌