CrossBoundary Energy partners with MIGA to accelerate distributed renewable energy services to commercial clients across Africa

22 July 2025, Ebene, Mauritius—CrossBoundary Energy Holdings (CBE), a leading provider of distributed renewable energy solutions for Africa’s commercial and industrial (C&I) sector, and the Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, have executed framework terms for a 15-year, US$495M platform-level program. MIGA has begun issuing individual guarantees under this framework.

The guarantee structure is designed to accelerate the deployment of distributed renewable energy projects throughout the continent. Under the framework, MIGA will provide guarantees covering currency inconvertibility and transfer restriction risks for up to 15 years, supporting CBE’s investments across an estimated 100 energy generation and storage projects for private businesses in Africa. This portfolio-based approach streamlines the guarantees, facilitating rapid and efficient scaling of clean energy solutions that enhance operational resilience, drive productivity, and create jobs.

The guarantee structure is especially impactful in expanding commercial investments to markets in need: 11 International Development Association (IDA) countries and 4 fragile or conflict-affected countries will benefit from CBE’s competitive offerings. Leveraging a first-loss risk sharing of up to US$61.5M from the IDA Private Sector Window-MIGA Guarantee Facility, these guarantees support projects in the Democratic Republic of Congo, Guinea, Mali, Madagascar, Malawi, Mozambique, Rwanda, Sierra Leone, Uganda, Tanzania, and Zambia.

For non-IDA-eligible countries, MIGA will utilize the Renewable Energy Catalyst Trust Fund, providing first-loss risk participation of up to $37.6 million. This support covers projects in Côte d’Ivoire, Egypt, Eswatini, Ghana, Kenya, Namibia, Nigeria, Senegal, and South Africa.

CBE’s portfolio spans a wide range of sectors and locations. Recently, it signed a power purchase agreement with Kamoa Copper SA in the Democratic Republic of Congo to deliver one of Africa’s largest C&I solar-plus-battery projects, which will significantly cut both operational costs and emissions for the Kamoa-Kakula mining complex. The mine currently relies on diesel generators for a significant amount of its electricity needs. In Sierra Leone, CBE completed a pilot program that deploys solar and battery systems to telecom towers in Freetown, powering the nation’s first 5G network rollout. Meanwhile, in Madagascar, CBE is commissioning the country’s first wind farm to supply renewable power to Rio Tinto’s QMM operations in support of an existing 14 MWp solar plant.

Aggregating multiple C&I renewable energy projects into a single platform aligns with lender and investor expectations and unlocks long-term commercial bank financing. Standard Bank of South Africa Limited has recently been appointed to lead and arrange up to $300 million in senior debt to further drive the scaling of CBE’s renewable energy portfolio.