Solar specialists Solarcentury and Energy investors CrossBoundary Energy have joined forces to offer financed solar solutions to a select portfolio of commercial and industrial customers operating in Africa.
The global rise of solar power as the lowest cost source of electricity is changing the energy landscape in Africa. Across the continent, solar power can help energy intensive businesses reduce their operating costs and compete more effectively in a global marketplace. The key features of a successful and viable solar project are first class engineering and well structured financing.
Businesses looking to purchase solar can now benefit simultaneously from the market leading expertise that both companies bring to the table. Solarcentury''s understanding of the technical challenges in integrating solar with an operating business and CrossBoundary''s experience of financing businesses operating in fast changing circumstances, combine to deliver a market ready viable solar solution to businesses in the region.
Dr Daniel Davies, Africa Director for Solarcentury commented "Solarcentury has been at the forefront of designing and building commercial scale solar PV plants in Sub-Saharan Africa. We have built the majority of commercial and industrial Solar PV plants in East Africa and we have seen businesses make considerable savings from day one of energising the PV plant. We now bring our substantial technical expertise and in partnership with CrossBoundary Energy, are able to provide a unique financing offer for any business in Africa."
Matt Tilleard, Managing Partner at CrossBoundary Energy explained that "our objective at CrossBoundary Energy is to provide financing to the best solar developers in Africa who are serving corporate customers, so we''re excited to be working with Solarcentury to bring African businesses cheaper and cleaner power." He added "Businesses are the major consumers of electricity in most African markets, by providing them cheaper power through a solar PPA we can actually save them money from day one while also reducing their carbon emissions."
The historical presence of BB Energy in Africa and large network of consumers in the continent make it the perfect match with SCA, an integrated solar power developer offering development, construction, operation and financing to end-users in Africa.
The transaction will also give BBE Renewables Division access to a pipeline of 2.1 GW worth of solar energy & battery storages projects across Africa, all backed by strong regional and international consumer and industrial customers (C&I).
SCA represents the second investment made by BBE Renewables Division in less than a year and their first fully owned subsidiary. Its successful model with mining and large C&I will be replicated with other renewables across multiple regions with a plan to double in size within the next twelve to eighteen months.
After decades of trading, BBE has an unrivalled depth of knowledge in the countries where they operate. This, combined with their logistics expertise and experienced traders, allows them to meet their clients'' needs with reliable and innovative solutions.
Mohamed Bassatne – Group CEO BB Energy: “BB Energy has been a leading energy player for more than 50 years. During this time, we have been pioneers in some of the most important evolutions of our industry such as the trading of cleaner fuels (LPG and LNG). With the creation of our Renewables Division last year, and this landmark acquisition, we ambition to remain a leader in the industry while supplying more green energy to our planet in line with our group and our stakeholders energy transition goals.”
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