- CrossBoundary Energy secured $140M in senior debt from Standard Bank to scale renewable energy projects for African businesses.
- The funding supports a larger $300M mandate to expand renewable energy solutions for commercial and industrial clients.
- CrossBoundary’s $570M portfolio spans 18 African countries, including solar, wind, and battery storage projects for industries like mining and telecommunications.
CrossBoundary Energy secured a US$140 million senior debt commitment from Standard Bank of South Africa. This transaction highlights the increasing role of commercial banks in financing renewable energy for African businesses.
This funding is the first tranche of a broader $300 million debt mandate from Standard Bank to scale CrossBoundary Energy’s renewable energy portfolio. The portfolio directly serves commercial and industrial (C&I) clients across Africa, delivering clean energy solutions to meet business needs.
Cygnus Capital exclusively advised CrossBoundary Energy, while Bracewell (UK) LLP provided legal counsel to the borrower. Trinity International LLP handled the lenders’ counsel for this significant deal.
Jeanne-Marie Fatti, Senior Vice President of Energy & Infrastructure at Standard Bank, emphasised the importance of affordable infrastructure financing. She noted, “Affordable financing unlocks reliable power access for businesses in Africa.”
Pieter Joubert, president and Chief Investment Officer at CrossBoundary Energy, stated, “Our partnership with Standard Bank accelerates our ability to deliver energy-as-a-service solutions to African businesses, boosting their competitiveness.”
CrossBoundary Energy provides fully financed renewable energy solutions, supporting enterprises across Africa. The company’s portfolio, valued at $570 million, spans 18 African countries. It includes 330 MW of solar and wind assets and 178 MWh of battery storage solutions. Clients range from the mining, industrial, and telecommunications sectors, including Rio Tinto, Unilever, Diageo, Heineken, and IHS Africa.
CrossBoundary Energy’s portfolio features large-scale hybrid power plants for mines, rooftop and ground-mounted solar PV plants for industrial clients, and distributed solar PV and battery solutions for telecommunications sites.
This financing from Standard Bank enables CrossBoundary Energy to expand these projects and address Africa’s energy challenges. Many African businesses struggle with unreliable and expensive power, hindering growth. CrossBoundary Energy targets this gap by offering renewable energy systems tailored for business use.
The energy transition in Africa demands significant investment. The International Energy Agency (IEA) estimates that Africa will need $160 billion in annual investment between 2026 and 2030 to align with climate goals. The private sector will need to contribute a significant portion of this funding.
CrossBoundary Energy plays a crucial role in advancing renewable energy in Africa. The company helps African businesses cut energy costs, lower emissions, and enhance sustainability through its energy-as-a-service solutions.
With headquarters in Mauritius and offices in Kenya, Nigeria, South Africa, and Ghana, CrossBoundary Energy continues to grow its impact. Its innovative approach to financing and deploying renewable energy places the company at the forefront of Africa’s energy transition.
This latest financing from Standard Bank enables CrossBoundary Energy to expand its presence and provide more African businesses with access to clean, reliable, and affordable power.