CrossBoundary Energy Secures US$140M Senior Debt from Standard Bank to Scale Renewable Energy Across Africa
CrossBoundary Energy has secured a US$140M senior debt commitment from the Standard Bank of South Africa, marking the first tranche in a broader mandate to arrange up to US$300M for scaling its renewable energy portfolio across Africa.
This financing deal supports CrossBoundary’s energy-as-a-service offering, providing affordable and reliable power solutions to Commercial and Industrial (C&I) clients.
The transaction highlights the crucial role of commercial funders in driving renewable energy adoption across the continent. As access to reliable power remains a major barrier to business growth in Africa, scalable infrastructure financing is essential for overcoming this challenge.
CrossBoundary Energy’s portfolio includes projects worth US$570M across 18 African countries, with 330 MW of solar and wind assets and 178 MWh of battery energy storage solutions.
Jeanne-Marie Fatti, Senior Vice President at Standard Bank, emphasized the growing need for innovative energy solutions in Africa, adding that companies like CrossBoundary Energy are leading the way in providing renewable-led power systems.
Pieter Joubert, President and Chief Investment Officer at CrossBoundary Energy, also highlighted the importance of affordable infrastructure financing in unlocking sustainable power access for businesses.
With this partnership, CrossBoundary Energy aims to accelerate the adoption of renewable energy, improving the sustainability and competitiveness of African businesses in sectors like mining, telecommunications, and industrials.
CrossBoundary Energy’s clients include global giants like Rio Tinto, Unilever, Diageo, Heineken, and IHS Africa. The company is headquartered in Mauritius and has offices in Kenya, Nigeria, South Africa, and Ghana.
Source: iAfrica
