CrossBoundary, a leading supplier and developer of renewable energy solutions in Africa, has secured a $40 million investment from Impact Fund Denmark to accelerate its portfolio of clean energy projects across the continent. The funding marks a major step in advancing sustainable development, climate action, and economic growth in Africa by expanding access to solar power and battery storage solutions.
The investment is targeted at scaling the deployment of solar PV and battery energy storage systems across key industries in Africa, offering a lifeline for enterprises that require stable, cost-effective, and clean electricity. Impact Fund Denmark, whose mandate focuses on climate action, poverty alleviation, and inclusive economic growth, has described this financing as a game-changer in improving the quality of life for African communities.
According to Thomas Hougaard, managing director and co-head of green energy at Impact Fund Denmark, Africa represents one of the most significant growth opportunities for clean energy investment. He noted that innovative energy solutions not only drive sustainable progress but also unlock the continent’s immense economic potential. Hougaard emphasized that such projects contribute directly to poverty reduction, climate resilience, and long-term regional development.
CrossBoundary CEO Pieter Joubert highlighted that the company’s unique zero-capex model is transforming how African businesses access power. Through flexible power purchase agreements (PPAs), companies can secure stable and affordable energy without making heavy upfront investments. This model frees businesses from the burden of financing energy infrastructure, allowing them to reinvest in their core operations and unlock new levels of growth. Joubert stressed that access to reliable clean energy is a catalyst for economic expansion, enabling enterprises to reach and exceed their targets while creating greater value in their regions.
One of the notable projects under CrossBoundary’s clean energy portfolio is its partnership with Kamoa Copper in the Democratic Republic of Congo. Through a commercial and industrial PPA, CrossBoundary is constructing a solar and battery energy storage system that will serve as a baseload power plant for Kamoa Copper. This project is expected to significantly boost copper output, enhance regional economic activity, and create new opportunities for local communities.
CrossBoundary is also progressing with its renewable energy projects in Madagascar, where it is supporting QIT Madagascar Minerals, a joint venture between Rio Tinto and the government of Madagascar. The project involves a wind power initiative, along with two large solar phases, to provide clean energy for mining operations in the Anosy region. This investment not only strengthens the company’s position in the mining and industrial sectors but also demonstrates the scalability of renewable energy solutions in Africa.
Earlier this year, CrossBoundary attracted increased global investor confidence. Norfund doubled its investment to $80 million, while Standard Bank closed a $140 million senior debt package, the first tranche of a $300 million mandate. In addition, the World Bank’s Multilateral Investment Guarantee Agency (MIGA) extended a $495 million guarantee framework to protect CrossBoundary’s assets against risks such as currency inconvertibility and transfer restrictions. These strategic partnerships demonstrate the global recognition of Africa’s clean energy potential and the crucial role CrossBoundary plays in shaping it.
Associate principal Tom Roberts emphasized that the investment from Impact Fund Denmark is essential for expanding CrossBoundary’s capacity to provide innovative clean energy solutions across multiple industries. He described it as a pivotal step that strengthens CrossBoundary’s ability to meet growing energy demands while aligning with global climate goals.
By continuing to develop, own, and operate distributed renewable energy solutions for African businesses, CrossBoundary is ensuring that enterprises no longer need to rely on costly and polluting alternatives. Through PPAs and lease agreements, the company is delivering reliable, affordable, and sustainable electricity that helps businesses thrive.
With this new $40 million investment from Impact Fund Denmark, CrossBoundary is set to deepen its impact in Africa by expanding clean energy access, reducing carbon emissions, and accelerating the continent’s path toward inclusive economic growth and energy security.
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