Standard Bank contributes $20mn to CrossBoundary Energy debt facility

Standard Bank has contributed USD 20mn to CrossBoundary Energy’s USD 50mn debt facility, which the C&I company agreed with the Facility for Energy Inclusion (FEI).

With the funds the company plans to continue to provide grid-tiered or captive IPP renewable energy solutions to commercial and industrial clients across Africa. It is also continuing to have discussions with senior lenders and expects to close a material senior debt facility early next year.