CrossBoundary Energy, a renewable energy developer, secured $200 million of additional senior debt, closing a second tranche of a portfolio financing facility arranged by the Standard Bank of South Africa Limited (SBSA), which was first closed in December 2024.
The financing transaction will support the construction of the company’s renewable energy infrastructure in Africa, providing energy-as-a-service to customers in mining, heavy industry, and telecommunications. The projects that are currently under construction include the 30 MW Kamoa-Kakula Solar PV/BESS Baseload Project in the DRC, which will supply baseload power to Kamoa Copper S.A., Africa’s copper mine.
SBSA was the mandated lead arranger on the transaction. A consortium of lenders comprising Absa, The Mauritius Commercial Bank (MCB), the Facility for Energy Inclusion (FEI), Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG), and the Dutch entrepreneurial development bank (FMO), participated in the transaction.
Cygnum Capital acted as the company’s exclusive financial advisor. Trinity International, SLR Consulting, DNV South Africa (Pty), INDECS Consulting, and Deloitte & Touche advised the lenders on the transaction.
“The expanded commitment arranged by Standard Bank and the entry of new lenders demonstrate overwhelming confidence in CBE’s ability to meet the demand for reliable and clean energy on the continent. This scalable debt framework allows us to pursue a more streamlined borrowing approach relative to project-level financing and support the construction of our rapidly expanding portfolio,” Justus Karuru, Associate Principal at CrossBoundary Energy.
This financing follows a $40 million equity-like capital investment closed by CrossBoundary Energy earlier in August 2025. The funding will help the company expand its portfolio of clean energy projects in Africa.
In December 2024, the company secured a $140 million senior debt commitment from the Standard Bank of South Africa on a fully underwritten basis. With this funding, the company plans to scale up its renewable energy portfolio and serve commercial and industrial (C&I) clients across Africa.
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
