CrossBoundary Energy (CBE) has secured a US$40 million investment from Impact Fund Denmark (IFDK), a move expected to accelerate the deployment of solar and battery storage solutions across Africa and amplify the continent’s entrepreneurial potential.
The financing will expand CBE’s portfolio of clean energy projects, offering African businesses cost-effective access to reliable power through flexible zero-CapEx power purchase agreements (PPAs).
For many enterprises, unreliable grid electricity remains a barrier to growth. By easing energy costs and stability concerns, CBE enables entrepreneurs to reinvest capital into scaling operations, hiring talent and innovating within their sectors.
“By supporting CrossBoundary Energy, we are contributing to sustainable development, reducing carbon emissions and improving the quality of life for communities across Africa,” said Thomas Hougaard, Managing Director and Co-Head of Green Energy and Infrastructure at IFDK. “We also see significant growth opportunities on the continent, where innovative energy solutions can unlock economic potential and drive inclusive progress.”
CBE’s business model is positioned as a catalyst for African entrepreneurship. Its solar PV and battery storage systems free up balance sheets for companies to invest in core value-generating activities instead of costly energy infrastructure.
“Our zero-CapEx model lowers the barrier to entry for African businesses seeking stable, clean, and cost-effective power,” said Pieter Joubert, President and Chief Investment Officer at CBE. “Once freed from heavy power costs, companies can reach and exceed their targets, unlocking further economic value in the regions where they operate.”
The company is currently constructing Africa’s first solar and battery baseload plant after signing the continent’s largest commercial and industrial PPA with Kamoa Copper SA, the world’s fifth-largest copper mine in the Democratic Republic of the Congo. By powering industrial players with renewable energy, CBE not only supports African business growth but also strengthens regional economies.
The new investment follows a string of major capital inflows into CBE, including US$80 million from Norfund, a US$140 million senior debt facility from Standard Bank (as part of a US$300 million mandate), and a US$495 million World Bank MIGA guarantee framework.
“This investment from IFDK is crucial for CBE to provide its service offering to clients like Kamoa Copper,” said Tom Roberts, Associate Principal at CBE. “The collaboration enabled us to navigate cross-border legal complexities to close the transaction within three months.”
With Africa’s energy deficit long cited as a constraint on entrepreneurship and industrialization, CBE’s expansion signals a step change. By securing investments that unlock renewable energy at scale, the company is creating the conditions for a new generation of African entrepreneurs to thrive in cleaner, more resilient economies.
