CrossBoundary secures $40m to build solar and battery power for African businesses
As the conflict between the US, Israel and Iran pushes up diesel prices and Eskom increases its electricity tariffs, renewable energy is a good option for many businesses looking to reduce costs and increase energy reliability. Right on time, CrossBoundary Energy has secured a $40m investment to fast-track commercial and industrial (C&I) renewable energy solutions throughout sub-Saharan Africa.
Inspired Evolution $40m investment will accelerate CrossBoundary Energy’s mission to provide clean, affordable, and reliable power to commercial and industrial clients. Image supplied.
The investment, made through Inspired Evolution’s next-generation energy transition fund, Evolution III, will support the development, construction, and expansion of CrossBoundary Energy’s portfolio of renewable energy assets, including solar PV, battery energy storage systems (BESS), and hybrid energy solutions.
“This investment reflects our conviction in scalable solutions to Africa's power challenges…and we look forward to accelerating CrossBoundary Energy's next phase of growth,” said Wayne Keast, co-founder and managing partner at Inspired Evolution.
The transaction reinforces Inspired Evolution’s commitment to supporting the energy transition across Africa by investing in scalable platforms that deliver clean energy infrastructure and unlock long-term value.
This capital commitment will accelerate CrossBoundary Energy’s mission to provide clean, affordable, and reliable power to commercial and industrial clients, reducing reliance on diesel generation and supporting decarbonisation efforts across key African markets.
CrossBoundary Energy operates a vertically integrated platform that combines asset ownership with development and asset management capabilities, enabling it to deliver reliable, cost-effective, and sustainable power solutions to businesses operating in energy-constrained environments across the region.
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The company has established a strong track record in deploying distributed energy solutions for multinational corporations.
It is increasingly expanding into the mining sector across Africa, building a robust pipeline of projects across multiple African jurisdictions.
A notable example is the Kamoa-Kakula Copper Complex in the DRC, where it is developing a 233MWp solar PV facility with a 526MWh battery energy storage system, ensuring a 30MW baseload power solution to support mining operations.