Businesses in sub-Saharan Africa experience a lot of power outages -- an average of eight per month, according to the World Bank.
That’s why self-generation is such a promising market in the region. The problem: It’s largely done through diesel generators. Solar can be a good way to cut out diesel fuel costs, but it presents its own challenges. Namely, it’s difficult to finance.
In December, CrossBoundary LLC raised an $8 million fund to support standardized power-purchase agreements for commercial and industrial PV projects in the region. It is the first fund of its kind, meant to leverage up to $30 million in investment.
This week, we talk with Matthew Tilleard, a managing partner at CrossBoundary, about the emerging opportunity for middle-market solar in sub-Saharan Africa. Can it scale?
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