Frontier market investment firm CrossBoundary and PowerGen Renewable Energy, a Tanzania-based micro-grid developer, have agreed to invest USD5.5 million to finance the development of 60 mini-grids in Tanzania. The project is estimated to bring power to 34,000 people in rural homes and businesses. As part of the transaction, CrossBoundary has signed a USD3 million long-term senior loan agreement with UK government-backed Renewable Energy Performance Platform to support the project’s development. CrossBoundary will invest through its project financing facility CrossBoundary Energy Access.