CBEA invests in Tanzania mini-grids

CrossBoundary Energy Access (CBEA), a fund financing African mini-grids, has signed an agreement with off-grid supplier PowerGen Renewable Energy to finance 60 mini-grids in Tanzania. CBEA will initially invest $5.5 million and has set up a special purpose entity that will buy PowerGen’s existing and future operating mini-grids in Tanzania. A financing agreement with Renewable Energy Performance Platform (REPP). REPP – a UK government supported and Camco Clean Energy managed platform - will provide a long-term senior loan, structured as project finance debt.  CBEA was advised by Norton Rose Fulbright.