CrossBoundary Energy (CBE) has secured $200M to further the construction of it’s renewable energy infrastructure in Africa and to provide energy-as-a-service to customers in mining, heavy industry, and telecommunications.
CBE is currently constructing Kamoa-Kakula Solar PV/BESS Baseload Project in the DRC, which will provide 30MW of baseload power to Kamoa Copper S.A., Africa’s largest copper mine.
According to Justus Karuru, Associate Principal at CrossBoundary Energy, “The expanded commitment arranged by Standard Bank and the entry of new lenders demonstrates overwhelming confidence in CBE’s ability to meet the demand for reliable and clean energy on the continent. This scalable debt framework allows us to pursue a more streamlined borrowing approach relative to project-level financing and support the construction of our rapidly expanding portfolio.”
The $200M additional senior debt, is a second tranche of a portfolio financing facility arranged by The Standard Bank of South Africa Limited (SBSA), first closed in December 2024.
SBSA was the lead arranger of the transaction with additional participation from Absa, The Mauritius Commercial Bank (MCB), the Facility for Energy Inclusion (FEI), Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG), and the Dutch entrepreneurial development bank (FMO).
The financing follows other commitments in 2025 from Norfund, Impact Fund Denmark, and the Emerging Africa and Asia Infrastructure Fund. The company also signed a US$495M guarantee framework from the World Bank’s MIGA in July 2025, which will substantially mitigate transfer restriction and currency inconvertibility across CBE’s markets of operation.
“Our provision of additional financing to CBE reflects Standard Bank’s mission to support business pioneers driving impact on the African continent. We’re thrilled to be closing the second tranche of senior debt that will catalyze clean, reliable energy provision and bolster Africa’s economy.” said Jeanne-Marie Fatti, Senior VP Energy & Infrastructure, Corporate and Investment Banking (CIB) at the Standard Bank of South Africa.
CBE in August 2025 secured a US$40M to build its rapidly expanding portfolio of clean energy projects in Africa. The equity-like capital investment was from a new partner, Impact Fund Denmark (IFDK). Earlier in the year, CrossBoundary Energy raised $40M from
In July 2022, the firm got another $40 million equity investment from Norfund, the Norwegian Investment Fund for developing countries, and KLP, Norway’s largest pension company, through their joint company KLP Norfund Investments, just a month after a $25 million in new funding from ARCH Emerging Markets Partners Limited, Bank of America, and Microsoft Climate Innovation Fund.
In February 2021, CrossBoundary Group received a minority investment from Brown Advisory to help it unlock capital to make a strong return and a lasting difference in underserved markets globally.