CrossBoundary Energy and Standard Bank South Africa have closed a $60 million subordinated debt facility to fund procurement for a renewable energy project serving the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo.
The funding will accelerate development of a 223-megawatt solar photovoltaic plant and 526-megawatt-hour battery storage system designed to supply the copper mine with clean energy under a 17-year power purchase agreement.
In a media statement on Tuesday, CrossBoundary Energy said the facility represents one of the largest renewable energy installations planned for Central Africa.
Standard Bank’s debt facility will enable CrossBoundary Energy to order long-lead equipment including battery units, solar modules and substations ahead of the construction timeline.
The project builds on an existing partnership between the companies.
Standard Bank provided a $141 million senior debt facility to CrossBoundary Energy in 2024 and continues discussions to expand that facility for the company’s growing project pipeline.
The Kamoa-Kakula complex, operated by Kamoa Copper S.A., ranks among the world’s largest copper mining operations.
The renewable energy system will provide baseload power to reduce the mine’s reliance on diesel generators and grid electricity.
CrossBoundary Energy develops utility-scale renewable projects across sub-Saharan Africa.
The company focuses on providing power directly to large industrial customers including mines and manufacturing facilities.
Standard Bank Group operates across 20 African countries and maintains a significant presence in infrastructure and project finance across the continent.
Kinshasa, DRC – Bantu Gazette
