CrossBoundary Energy (CBE) has secured a $40 million equity-like capital investment from Impact Fund Denmark (IFDK) to expand its portfolio of renewable energy projects across Africa.
The funding aims to accelerate sustainable development by delivering clean, cost-effective, and reliable power to businesses and communities across the continent.
Thomas Hougaard, managing director at IFDK, said the investment supports global climate goals while fostering growth in fragile regions and improving livelihoods in Africa.
CBE’s president, Pieter Joubert, emphasized that the company’s zero-CapEx model lowers entry barriers for African businesses seeking renewable power solutions.
He added that by easing reliance on traditional power investment, companies can focus resources on core business growth, unlocking further economic potential.
Currently, CBE is building Africa’s first solar and battery energy storage baseload plant after signing a landmark power purchase agreement with Kamoa Copper in the Democratic Republic of the Congo.
The deal follows Norfund’s $80 million investment earlier this year, as well as a $140 million debt close with Standard Bank in late 2024, part of a larger $300 million facility.
CBE has also secured a $495 million guarantee framework from the World Bank’s MIGA, designed to safeguard its assets against financial and political risks.
Industry experts see the IFDK partnership as a milestone in Africa’s energy transition, with potential to scale renewable solutions and reduce carbon emissions continent-wide.