Sustainable Energy Fund for Africa commits $10m to CrossBoundary Access

CrossBoundary Access, a blended finance facility for mini-grids, has landed $10 million in new funding commitments from the African Development Bank (AfDB) Sustainable Energy Fund for Africa (SEFA). This investment adds to the $25 million raised from ARCH Emerging Markets Partners Limited, Bank of America, and Microsoft Climate Innovation Fund in June last year.

CrossBoundary Access aims to deploy a total of $150 million over the next three years to bring clean energy to one million people in Africa. The mini-grids combine solar and batteries to provide 24/7 grid-quality power to households and businesses.

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