KENYA – CrossBoundary Group through its facility Crossboundary Energy Fund I, has commissioned a 424KWp solar plant for XFlora Rose Farms in Nakuru County, Kenya.
The new roof and ground installations will generate 750MWh of reliable, clean energy annually, resulting in approximately 35% reduction in their power cost.
With this solar plant installation, XFlora Farm will over the 20 – year life of the plant, avert over 7,000 tonnes of carbon dioxide emissions.
“Our solar power purchase agreements enable businesses operating in Sub-Sharan Africa to access affordable, clean, reliable power at no risk and to be able to reduce their carbon footprint. This is especially important for agricultural producers responding to changing consumer demands around their fresh produce’s carbon footprint”, said Crossboundary in a tweet.
“Our solar power purchase agreements enable businesses operating in Sub-Sharan Africa to access affordable, clean, reliable power at no risk and to be able to reduce their carbon footprint”
“We will manage and finance future project operations, maintenance, monitoring, and insurance . XFlora farm will pay monthly, discounted solar electricity bills while remaining protected from the technical and operational risks of operating a solar project in the long-term”
The CrossBoundary Energy Fund I was launched in 2015 and is Sub-Saharan Africa’s first investment platform for commercial and industrial solar.
It provides solar electricity to African enterprises, through fully financed Power Purchase Agreements (PPAs) and the firm now has over 30 MWp of C&I projects under operation, construction or awarded – the largest portfolio of such assets in Sub-Saharan Africa.
CrossBoundary Energy Access is the firm’s latest facility providing blended project finance for mini-grids in Africa.
In total, the Crossboundary Group has over 50 professional staff and offices in Bamako, Dubai, Johannesburg, Lagos, Nairobi, New York City and Washington DC.
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