Bank of America and CrossBoundary Energy will explore financing solutions to expand the latter’s renewable energy portfolio across Africa, the commercial and industrial (C&I) solar developer announced at the COP27 conference this week.
UN-, Netherlands-backed fund will invest US$850m in 1.7GW clean energy pipeline in African, Asian states, with solar meant to account for 40% of portfolio.
Some of the BRICS nations are witnessing a shortfall of billions of dollars in the renewables investment required to meet climate change mitigation policies, according to a report from the Institute of Energy Economics and Financial Analysis (IEEFA).
