Inspired Evolution has committed a US$40 million investment in CrossBoundary Energy to support the construction and expansion of its renewable energy project portfolio across Africa.
The investment marks a significant capital injection for CrossBoundary Energy as the company advances key hybrid energy infrastructure projects aimed at supporting mining operations across the continent.
Cygnum Capital acted as CrossBoundary Energy’s financial advisor and fundraising partner, assisting in structuring and executing the transaction.
The funding comes at a time when CrossBoundary Energy is making substantial progress on its Kamoa-Kakula Solar and Battery Energy Storage System (BESS) baseload facility for Kamoa Copper S.A.. The project is expected to supply power to Africa’s largest copper mining complex.
The company is also preparing to begin construction on a major hybrid energy project for the Baomahun Mine in Sierra Leone, operated by FG Gold. Once operational, the project is expected to provide energy to Sierra Leone’s largest gold mine.
Wayne Keast, Co-founder and Managing Partner at Inspired Evolution, said the investment reflects the firm’s confidence in scalable clean energy solutions to address Africa’s growing power challenges.
Keast noted that Inspired Evolution has mobilized more than US$1 billion and financed over 10 GW of clean energy projects across 21 African countries, adding that the company sees strong potential in CrossBoundary Energy’s project pipeline and operational model.
Tom Roberts, Principal and Head of Investment at CrossBoundary Energy, said the investment demonstrates investor confidence in the company’s project execution capabilities and track record in delivering renewable energy infrastructure across Africa.
He added that Inspired Evolution’s expertise in financing renewable energy projects will support CrossBoundary Energy’s expansion plans and strengthen its ability to scale across underserved energy markets.
Felix Brand, Managing Director at Cygnum Capital, said the transaction highlights the importance of strategic capital deployment in underserved markets, creating both commercial value and broader economic impact.
The latest equity investment follows CrossBoundary Energy’s successful closure of a US$200 million senior debt facility in November 2025, arranged by Standard Bank of South Africa Limited. The financing represented the second tranche of a portfolio funding facility initially closed in December 2024.
The fresh capital is expected to accelerate CrossBoundary Energy’s renewable energy deployment across Africa, particularly in the mining sector, where demand for reliable, low-carbon power solutions continues to grow.
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