As conflicts between the US, Israel and Iran drive up diesel prices and Eskom raises its electricity rates, renewable energy is a good option for many businesses looking to reduce costs and increase energy reliability. At the right time, CrossBoundary Energy has secured a $40 million investment to fast-track commercial and industrial (C&I) renewable energy solutions across sub-Saharan Africa.
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.
Wayne Kest, co-founder and managing partner of Inspired Evolution, said, “This investment reflects our strong belief in scalable solutions to Africa's power challenges… and we look forward to accelerating the next phase of Crossboundary Energy's growth.”
This 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 electricity to commercial and industrial customers, reduce reliance on diesel generation, and support decarbonization efforts in key African markets.
Crossboundary Energy operates a vertically integrated platform that combines asset ownership with development and asset management capabilities, enabling it to provide reliable, cost-effective and sustainable power solutions to businesses operating in energy-constrained environments across the region.
The company has established a strong track record in deploying distributed energy solutions for multinational corporations.
It is rapidly expanding in the mining sector across Africa, building a strong pipeline of projects in several 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.
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