energy
19.11.2025
Announcement
19.11.2025
Announcement

CrossBoundary Energy secures additional US$200M senior debt with multiple new lenders to further renewable energy portfolio expansion across Africa

Key takeaways
CrossBoundary Energy has secured an additional US$200M as part of a second tranche of a senior debt transaction arranged by the Standard Bank of South Africa
The financing will be used to develop and build CrossBoundary Energy’s renewable energy portfolio in Africa, providing an essential service for industry on the continent
The Standard Bank of South Africa Limited, Absa CIB, MCB, FEI, DEG, and FMO are contributing to the financing
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CrossBoundary Energy (CBE) has secured US$200M of additional senior debt, closing a second tranche of a portfolio financing facility arranged by The Standard Bank of South Africa Limited (SBSA), first closed in December 2024. This new transaction increases CBE’s senior debt commitments and expands additional ancillary facilities.

Johannesburg, South Africa, 19 November 2025—CrossBoundary Energy (CBE) has secured US$200M of additional senior debt, closing a second tranche of a portfolio financing facility arranged by The Standard Bank of South Africa Limited (SBSA), first closed in December 2024. This new transaction increases CBE’s senior debt commitments and expands additional ancillary facilities.

The transaction will further the construction of CrossBoundary Energy’s renewable energy infrastructure in Africa, providing energy-as-a-service to customers in mining, heavy industry, and telecommunications. Projects currently under construction include the groundbreaking Kamoa-Kakula Solar PV/BESS Baseload Project in the DRC, which will provide 30MW of baseload power to Kamoa Copper S.A., Africa’s largest copper mine.

SBSA was the mandated lead arranger of the transaction. Additional participation in the facility came from a consortium of lenders, including Absa, The Mauritius Commercial Bank (MCB), the Facility for Energy Inclusion (FEI), Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG), and the Dutch entrepreneurial development bank (FMO). The novel portfolio facility won the IFLR Deal of the Year in the “Loan” category at the IFLR Awards for Africa in March 2025.

CrossBoundary Energy was advised by Cygnum Capital as an exclusive financial advisor. Trinity International LLP, SLR Consulting, DNV South Africa (Pty) Ltd, INDECS Consulting, and Deloitte & Touche LLP acted as lenders’ advisors on the transaction.
"The expanded commitment arranged by Standard Bank and the entry of new lenders demonstrates overwhelming confidence in CBE’s ability to meet the demand for reliable and clean energy on the continent. This scalable debt framework allows us to pursue a more streamlined borrowing approach relative to project-level financing and support the construction of our rapidly expanding portfolio."

Justus Karuru, Associate Principal at CrossBoundary Energy

"Our provision of additional financing to CBE reflects Standard Bank’s mission to support business pioneers driving impact on the African continent. We’re thrilled to be closing the second tranche of senior debt that will catalyze clean, reliable energy provision and bolster Africa’s economy."

Jeanne-Marie Fatti, Senior Vice President: Energy & Infrastructure, Corporate and Investment Banking (CIB) at the Standard Bank of South Africa

"We recognize that access to reliable, sustainable energy is vital to Africa’s growth. Our partnership with CrossBoundary Energy underscores the role of innovative financing in driving the continent’s energy transition and enabling businesses to operate more competitively and sustainably."

Shirley Webber, Managing Executive, Resources and Energy at Absa CIB

"Energy is one of FMO’s core sectors due to its critical impact on development. Addressing financing gaps in African renewable energy for firms like CBE furthers our vision of building productive and resilient economies in Africa."

Fedde Zwart, Senior Investment Officer: Energy, Africa at FMO

"Renewable energy infrastructure is critical to the resilience of African economies. As a long-term banking partner of CBE and a supporter of climate finance, we are pleased to be furthering our support to CBE."

NK Naginlal Modi, Executive Vice President, Power & Infrastructure – Energy, Infrastructure & Commodities at MCB

"Sustainable and resilient economies are built through many stakeholders and contributors. Supporting renewable energy infrastructure is one of our key topics. Therefore we, together with other lenders, contribute to this financing."

Andreas Cremer, Director, DEG Debt team Energy & Infrastructure Africa/Latin America

"Expanding our lending to CBE will help to build renewable energy solutions that will support critical sectors, like mining, to scale. This transaction highlights how stakeholders can work together to make ambitious projects a reality."

Carmen de Castro, Fund Lead, Managing Director at FEI

The financing follows other commitments in 2025 from Norfund, Impact Fund Denmark, and the Emerging Africa and Asia Infrastructure Fund. The company also signed a US$495M guarantee framework from the World Bank’s MIGA in July 2025, which will substantially mitigate transfer restriction and currency inconvertibility across CBE’s markets of operation.

This latest financing commitment comes on the eve of the G20 Leaders’ Summit in South Africa, where global cooperation and investment in infrastructure will be at the center of the agenda. Reliable power remains one of the most significant constraints on African businesses’ ability to grow and compete, making transactions like this a concrete example of how global capital can unlock economic potential across the continent.

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