The funding, deployed through the firm’s Evolution III fund, will be used to expand CrossBoundary Energy’s portfolio of distributed renewable energy projects.

These include solar photovoltaic systems, battery energy storage, and hybrid power solutions tailored to commercial and industrial users.

The deal comes at a time when many African businesses continue to face frequent power outages and rising fuel costs, driving interest in decentralized energy systems that can be deployed more quickly than large-scale grid infrastructure.

Analysts note that such systems are becoming critical for sectors like mining, manufacturing, and telecommunications, where uninterrupted power is essential for operations.

CrossBoundary Energy has built its model around financing, building, and operating energy systems for corporate clients, allowing companies to access clean electricity without upfront capital investment.

The company has already delivered projects for multinational firms and is increasingly targeting mining operations, where energy demand is high, and reliability is crucial.

One of its flagship developments is underway at the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo.

The project combines a large-scale solar installation with battery storage and is designed to deliver a stable baseload power supply for mining activities.

Commenting on the investment, Inspired Evolution co-founder and managing partner Wayne Keast said the firm is backing solutions that can scale across the continent.

“This investment reflects our conviction in scalable solutions to Africa’s power challenges. Having mobilized over $1 billion and financed more than 10 GW of clean energy projects across 21 countries, Inspired Evolution recognizes bankable projects that translate capital into measurable impact, and we look forward to accelerating CrossBoundary Energy’s next phase of growth,” he said.

CrossBoundary Energy also sees the partnership as a signal of confidence in its approach.

“The investment from Inspired Evolution demonstrates a vote of confidence in our delivery capabilities and the track record we have already attained in Africa. Inspired Evolution’s experience in financing renewable energy projects will be invaluable and help us to expand our reach,” said Tom Roberts, the company’s head of investment.

The transaction adds to a growing pool of private capital flowing into Africa’s clean energy sector, where investors are increasingly targeting commercially viable, off-grid and embedded generation solutions.

These models are seen as a faster and more flexible way to close the continent’s energy gap while supporting decarbonisation efforts.