CrossBoundary Secures $140M for Renewable Portfolio Expansion – EQ
In Short : CrossBoundary Energy has secured $140 million in funding to enhance its renewable energy portfolio across Africa and other emerging markets. The investment will drive the development and deployment of solar, wind, and hybrid energy projects, enabling access to clean energy for businesses and communities. This initiative aligns with global efforts to accelerate renewable energy adoption and sustainable development.
In Detail : Renewables firm CrossBoundary Energy secured a $140 million debt commitment from financial institution the Standard Bank of South Africa to accelerate renewable energy adoption in Africa.
The funding represents the initial tranche of a $300 million senior debt package to be provided by Standard Bank. CrossBoundary Energy will fund the expansion of its energy-as-a-service solution to commercial and industrial clients.
The loan will help ensure energy reliability, affordability and accessibility while enhancing the competitiveness of African businesses, according to Pieter Joubert, President and Chief Investment Officer at CrossBoundary Energy.
“There is a growing need for innovative energy solutions in Africa,” added Jeanne-Marie Fatti, Senior Vice President: Energy & Infrastructure, Corporate and Investment Banking at the Standard Bank of South Africa, highlighting the role financed distributed renewables play in meeting growing energy demand.
To date, CrossBoundary Energy has invested $570 million in 330 MW of solar and wind projects as well as 178MWh of battery energy storage systems in 18 African countries.
