Generation
CrossBoundary Energy Secures $40M in Danish Funding for African Renewables
Distributed energy firm CrossBoundary Energy has secured a $40 million equity investment from Danish investor Impact Fund Denmark to accelerate renewable energy adoption in Africa.
Cross Boundary Energy is currently deploying a 222 MWp solar facility and a 123 MVA/526 MWh battery system to power the 600,000 tons per annum Kamoa-Kakula Copper Mine in the Democratic Republic of Congo.
“Our zero-CapEx model lowers the barrier to entry for African companies seeking stable, clean and cost-effective power,” Pieter Joubert, President of Cross Boundary Energy.
The investment aligns with Impact Fund Denmark’s mission to combat climate change and foster growth in Africa.
The distributed energy firm operates 30 projects in eight countries, including Madagascar’s first wind farm which will power Rio Tinto’s mines in the country.
CrossBoundary Energy recently secured $80 million from Norfund, $140 million from Standard Bank and $495 million from the World Bank to scale its renewables business in Africa.
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