Danish Investment Powers African Renewable Energy Expansion with $40M Boost
CrossBoundary Energy has secured a substantial $40 million equity investment from Danish investor Impact Fund Denmark to accelerate renewable energy adoption across Africa. The distributed energy firm is currently implementing ambitious projects, including a 222 MWp solar facility and a 123 MVA/526 MWh battery system designed to power the massive Kamoa-Kakula Copper Mine in the Democratic Republic of Congo.
“Our zero-CapEx model lowers the barrier to entry for African companies seeking stable, clean and cost-effective power,” said Pieter Joubert, President of CrossBoundary Energy. The investment aligns perfectly with Impact Fund Denmark’s mission to combat climate change while fostering economic growth in Africa.
The company operates an impressive portfolio of 30 projects across eight countries, including Madagascar’s first wind farm that will power Rio Tinto’s mining operations. This latest funding adds to CrossBoundary Energy’s recent financial success, following $80 million from Norfund, $140 million from Standard Bank, and $495 million from the World Bank.
Source: energycapitalpower.com
