• CrossBoundary Energy and Standard Bank South Africa secure $60 million loan to accelerate solar power plant equipment procurement for Kamoa-Kakula copper complex.

• The 223 MWp solar plant with 526 MWh storage will reduce diesel use and CO₂ emissions under a 17-year power purchase deal.

• This deal bolsters clean energy adoption in African mining and sets a regional benchmark for industrial decarbonization.

CrossBoundary Energy (CBE) and Standard Bank South Africa closed a $60 million subordinated loan on July 14, 2025. The funding will speed up buying critical equipment for the Kamoa-Kakula copper complex’s solar unit in the Democratic Republic of Congo (DRC).

The capital will cover early procurement of photovoltaic modules, battery energy storage systems (BESS), and electrical substations. This move shortens commissioning time for a 223 MW peak solar facility paired with 526 MWh of storage.

This hybrid solar and storage power plant will supply baseload electricity continuously to the mining complex. The facility operates under a 17-year power purchase agreement (PPA). It aims to replace a significant portion of diesel generation, cutting CO2 emissions drastically.

This financing strengthens CBE’s partnership with Standard Bank. In 2024, Standard Bank provided $141 million in senior debt to support CBE’s regional growth. Today, CBE manages over 500 MW of renewable capacity in 18 African countries.

Africa’s mining sector is pressing for reliable, low-carbon energy to support industrial growth. Early procurement loans like this one can hasten access to essential clean energy equipment. The solar-plus-storage solution challenges traditional reliance on thermal power for baseload needs, demonstrating renewables’ rising role.

As Africa’s top copper producer, the DRC stands to lead by example. Kamoa-Kakula’s hybrid model offers a blueprint for other projects aiming to cut carbon footprints and boost competitiveness.

This initiative highlights the strategic shift in African mining toward sustainability while securing energy needs critical to production.

 Abdoullah Diop