The Emerging Africa & Asia Infrastructure Fund (EAAIF), under the management of Ninety One, has committed $45 million in funding to CrossBoundary Energy.
This investment is set to drive the expansion of renewable energy solutions, including solar, wind, hybrid energy, and battery energy storage systems (BESS), in regions with conducive environments for sustainable power generation.
CrossBoundary Energy specializes in providing clean energy to corporate and industrial clients.
The company currently operates a portfolio of 25 projects valued at approximately $100 million, featuring around 60 MW of generation capacity and 22MWh of BESS.
Additionally, it has a pipeline of projects under various stages of development, worth around $560 million, encompassing 440 MW of generation assets and over 570MWh of BESS.
This funding is part of a broader $300 million senior debt facility, structured and led by Standard Bank of South Africa, which recently allocated $141.5 million to the facility’s first tranche.
Esther Chan, a director at Ninety One, highlighted the significance of this investment, stating:
“This marks EAAIF’s first venture into commercial and industrial energy in Africa, complementing our existing portfolio of utility-scale renewable energy projects. Our partnership with CrossBoundary Energy is aimed at accelerating Africa’s clean energy transition while fostering economic growth. We remain committed to financing infrastructure projects that drive productivity and long-term development across key industries.”*
Pieter Joubert, president and chief investment officer at CrossBoundary Energy, emphasized the impact of this funding:
“The growing demand for energy-as-a-service in industries like mining, telecommunications, and manufacturing underscores the need for expanded renewable solutions. EAAIF’s contribution will play a crucial role in scaling our portfolio, ensuring we continue delivering clean energy across Africa. We appreciate the support of partners who share our vision for sustainable growth.”
This strategic investment is expected to enhance Africa’s renewable energy landscape, supporting industries that drive economic transformation while advancing clean energy initiatives across the continent.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
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