- Impact Fund Denmark has committed an investment of USD 40 million to CrossBoundary Energy (CBE), with the aim of bolstering stable and sustainable electricity solutions throughout Africa.
- The funding will primarily support the provision of green energy for businesses, reducing reliance on diesel generators and thereby significantly curbing CO2 emissions.
CBE’s portfolio includes 30 projects across 8 countries, with rapid expansion on the horizon. Current clients include major local and international firms across diverse commercial and industrial industries, such as Unilever, Guinness, and Rio Tinto. CBE offers flexible Power Purchase or lease agreements for 15-20 years, managing construction and maintenance through external service providers while overseeing processes to ensure safe and efficient operations.
“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 CrossBoundary Energy. “These companies’ balance sheets are freed up to invest in their core value-generating activities, allowing them to reach and exceed their targets and unlock further economic value in the regions in which they operate.”
Many projects in CBE’s portfolio have far-reaching impacts for economic and sustainable development in Africa. CrossBoundary Energy recently enabled the first 5G network rollout in Sierra Leone through powering telecom towers with solar and battery systems in the capital, Freetown. The company is currently completing Madagascar’s first wind farm, in support of a successful 14 MWp solar PV project for Rio Tinto in the Southeast of the country.
Author: Bryan Groenendaal
