CrossBoundary Energy secures US$140M senior debt from the Standard Bank of South Africa to scale renewable energy portfolio across Africa
Summary
CrossBoundary Energy was supported by Cygnum Capital acting as exclusive financial adviser, and by Bracewell (UK) LLP as borrowers counsel. Trinity International LLP acted as lenders counsel on the transaction.In Africa, access to reliable and affordable power is one of the largest impediments to business growth. Our partnership with Standard Bank will allow us to expand and accelerate energy-as-a-service to African customers, ultimately improving the sustainability and competitiveness of businesses across Africa. Its current awarded portfolio comprises $570M of projects across 18 African countries, with 330 MW of solar and wind assets and 178 MWh of battery energy storage solutions. CrossBoundary Energys clients include leading businesses in the mining, industrial, and telecommunications sectors such as Rio Tinto, Unilever, Diageo, Heineken, the Devki Group, and IHS Africa.