CrossBoundary Energy receives $40m from Danish investor
CrossBoundary Energy has secured a $40 million equity-like capital investment from Impact Fund Denmark.
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CrossBoundary Energy has secured a $40 million equity-like capital investment from Impact Fund Denmark (IFDK). The investment will help CBE grow its portfolio of clean energy projects in Africa.
Thomas Hougaard, managing director and co-head of green energy and infrastructure at IFDK, said, “This investment aligns with our primary objectives: tackling climate change, supporting poor and fragile regions, and fostering growth in Africa. By supporting CrossBoundary Energy, we are contributing to sustainable development, reducing carbon emissions, and improving the quality of life for communities across Africa. We also see significant growth opportunities on the continent, where innovative energy solutions can unlock economic potential and drive inclusive progress.”
Pieter Joubert, president and chief investment officer at CrossBoundary Energy, said, “Our zero-CapEx model lowers the barrier to entry for African businesses seeking stable, clean, and cost-effective power. Once companies’ balance sheets are freed up to invest in their core value-generating activities rather than power provision, they can reach and exceed their targets, unlocking further economic value in the regions in which they operate.”
CrossBoundary Energy is currently constructing the first solar/battery energy storage system baseload plant in Africa after signing Africa’s largest commercial and industrial power purchase agreement with Kamoa Copper, the world’s fifth-largest copper mine in the Democratic Republic of the Congo.
Earlier this year, Norfund doubled its investment in CBE to $80 million, following a $140 million senior debt close from Standard Bank at the end of 2024, as the first tranche of a $300 million senior debt mandate. The company has also recently secured a $495 million guarantee framework from the World Bank’s MIGA, which will protect the firm's assets from transfer restriction and currency inconvertibility.
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