• CBE raised $200 million in senior debt as a second tranche arranged by Standard Bank
• New funding strengthens its model of fully financed renewable power for industries
• The deal comes as Africa attracts only about 2% of global renewable energy financing

CrossBoundary Energy (CBE), an investor in off-grid solar projects and a member of CrossBoundary Group, announced last week it secured 200 million $ in senior debt as the second tranche of a financing mechanism arranged by Standard Bank. The operation confirms lenders’ interest in its model of supplying energy to African industries.

The first tranche of the mechanism closed in December 2024. It paved the way for additional commitments obtained in 2025 from Norfund, Impact Fund Denmark, and the Emerging Africa and Asia Infrastructure Fund. CBE also signed on July 14, 2025, a 495 million $ guarantee agreement with the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group. This guarantee covers transfer and currency risks in the countries where the company deploys its assets.

The new investment strengthens CBE’s financing capacity and enables it to extend its model, which provides fully financed, risk-free renewable power solutions to African companies in the mining, industrial, and telecommunications sectors. This model is illustrated by the solar and storage unit under development for the Kamoa-Kakula copper mine in the Democratic Republic of Congo. The facility is expected to supply 30 MW of baseload power to the mine, reducing dependence on costly fossil energy and the unstable national grid.

The operation comes as renewable energy financing in Africa remains far below the level needed to unlock the continent’s potential and meet demand for reliable and affordable electricity. According to the latest data released by IRENA (International Renewable Energy Agency), sub-Saharan Africa attracted only about 2% of total global renewable energy project financing in 2024.