CrossBoundary Energy (CBE) has secured a US$40 million investment from Impact Fund Denmark (IFDK) to expand its clean energy projects across Africa. The capital will accelerate the deployment of solar PV and battery energy storage systems (BESS), helping businesses access reliable, affordable, and sustainable power.
CrossBoundary Energy is a Kenyan-based investment firm that specialises in delivering renewable energy solutions tailored for commercial and industrial clients across Africa. As a subsidiary of the CrossBoundary Group, it focuses on solar, wind, and battery storage projects that provide businesses with reliable, clean power—particularly where grid stability falls short.
Founded in 2011 by Matthew Tilleard, Jack Cusack, and Tom Flahive, the CrossBoundary Group emerged from the challenge of unlocking capital in underserved and conflict-affected markets. Team founders’ on-the-ground experience in fragile states informed their mission: to create bottom-up, locally responsive private-sector solutions rather than top-down aid approaches
Thomas Hougaard of IFDK said the deal supports climate action, growth in fragile regions, and improved livelihoods: “By supporting CrossBoundary Energy, we are contributing to sustainable development, reducing carbon emissions, and improving the quality of life for communities across Africa.”
CBE’s zero-CapEx power purchase agreements (PPAs) allow African enterprises to adopt clean energy without upfront costs. “Once companies’ balance sheets are freed up to invest in core activities, they can unlock further economic value,” added Pieter Joubert, CBE’s President and CIO.
The company is currently building Africa’s first solar/BESS baseload plant under the continent’s largest C&I PPA with Kamoa Copper SA in the DRC. Tom Roberts of CBE stressed that IFDK’s investment was key to closing the deal quickly despite cross-border legal hurdles.
The transaction follows a string of major financings, including Norfund’s $80M expansion, $140M senior debt from Standard Bank, and a $495M World Bank MIGA guarantee framework.
With fresh backing, CBE is set to scale renewable energy access, driving business growth and supporting Africa’s transition to clean power.
