- CBE raises $200 million in senior debt to finance solar-plus-storage projects for industrial clients, reducing reliance on diesel and grid instability.
- The financing highlights growing investor confidence in bankable renewable solutions in Africa’s frontier markets.
CrossBoundary Energy (CBE) has raised a fresh US$200 million in senior debt to expand its renewable power portfolio across Africa, reinforcing its role in supplying clean electricity to industrial clients.
The financing, arranged as a second tranche led by Standard Bank, follows an initial tranche closed in December 2024. Investors include Norfund, Impact Fund Denmark, and the Emerging Africa and Asia Infrastructure Fund. The funds will support projects in industrial markets where energy insecurity limits growth.
Meanwhile, CBE uses a model that eliminates upfront infrastructure costs for companies. Clients pay through long-term offtake agreements. The company focuses on fully financed solar and storage systems, appealing to mining, manufacturing, and telecom firms that face unreliable grids and high diesel costs.
Furthermore, one flagship project is a 30-megawatt solar-plus-storage facility for the Kamoa-Kakula copper mine in the Democratic Republic of Congo. The system will provide steady baseload power, reduce shutdown risks, lower operating costs, and cut emissions.
The Multilateral Investment Guarantee Agency (MIGA) also approved a US$495 million guarantee in July to protect CBE’s assets from currency and transfer risks. Analysts say the facility signals growing lender confidence in decentralised renewables in markets previously seen as high-risk.
Despite this progress, significant investment gaps remain. Sub-Saharan Africa received only about 2% of global renewable energy funding in 2024. Additionally, experts note reliable power is vital for competitiveness in mining and manufacturing sectors that often spend heavily on backup diesel.
CBE’s projects could serve as models for bankable renewable power in frontier African markets, linking private capital to sustainable energy solutions.