CrossBoundary Energy Secures $40 Million Investment to Boost Africa’s Renewable Power
CrossBoundary Energy Receives $40 Million from Impact Fund Denmark to Accelerate Renewable Energy in Africa
CrossBoundary Energy has secured a $40 million equity investment from Danish investor Impact Fund Denmark to accelerate renewable energy adoption across Africa.
The distributed energy firm is advancing ambitious projects, including a 222 MWp solar facility and a 123 MVA/526 MWh battery system designed to power the 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,” said Pieter Joubert, President of CrossBoundary Energy.
The investment aligns with Impact Fund Denmark’s mission to combat climate change while promoting economic growth across the continent.
CrossBoundary Energy manages a portfolio of 30 projects across eight countries, including Madagascar’s first wind farm, which will supply power to Rio Tinto’s mining operations.
This latest funding builds on the company’s recent financial milestones, following $80 million from Norfund, $140 million from Standard Bank, and $495 million from the World Bank.
