Inspired Evolution, a specialist pan-African investment firm focused on clean energy infrastructure, energy, and resource efficiency growth investments, today announced a USD 40 million investment in CrossBoundary Energy Holdings Ltd (“CrossBoundary Energy”), a leading developer, owner, and operator of distributed renewable energy solutions for commercial and industrial (C&I) clients across sub-Saharan Africa.
The investment, made through Inspired Evolution’s next-generation energy transition fund, Evolution III, will support the development, construction, and expansion of CrossBoundary Energy’s portfolio of renewable energy assets, including solar PV, battery energy storage systems (BESS), and hybrid energy solutions.
The transaction reinforces Inspired Evolution’s commitment to supporting the energy transition across Africa by investing in scalable platforms that deliver clean energy infrastructure and unlock long-term value.
CrossBoundary Energy operates a vertically integrated platform that combines asset ownership with development and asset management capabilities, enabling it to deliver reliable, cost-effective, and sustainable power solutions to businesses operating in energy-constrained environments across the region.
CrossBoundary Energy has established a strong track record in deploying distributed energy solutions for multinational corporations. The company is increasingly expanding into the mining sector across Africa, building a robust pipeline of projects across multiple African jurisdictions. A notable example is the Kamoa-Kakula Copper Complex in the DRC, where they are developing a 233 MWp solar PV facility with a 526 MWh battery energy storage system, ensuring a 30 MW baseload power solution to support mining operations. This project highlights CrossBoundary Energy’s capability to deliver reliable, large-scale energy infrastructure in complex operating environments.
This capital commitment will accelerate CrossBoundary Energy’s mission to provide clean, affordable, and reliable power to commercial and industrial clients, reducing reliance on diesel generation and supporting decarbonization efforts across key African markets.
Wayne Keast, co-founder and managing partner at Inspired Evolution, remarked, “This investment reflects our conviction in scalable solutions to Africa’s power challenges. Having mobilised over USD 1 billion and financed more than 10 GW of clean energy projects across 21 countries, Inspired Evolution recognises bankable projects that translate capital into measurable impact, and we look forward to accelerating CrossBoundary Energy’s next phase of growth.”
Tom Roberts, Head of Investment at CrossBoundary Energy, remarked, “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.”
About Inspired Evolution
Inspired Evolution is a leading African climate investment firm focused on clean energy infrastructure, energy access, and resource efficiency. Founded in 2007 and headquartered in Cape Town with offices in Nairobi, Abidjan, London, and Mauritius, Inspired Evolution manages the Evolution suite of funds with over USD 1bn in commitments (including co-investments), with capital deployed across 21 African countries to date.
Evolution III predominantly focuses on private finance to mitigate climate change, support the energy transition, and improve resource efficiency. Evolution III invests across both infrastructure-type clean energy or resource efficiency platforms and projects, as well as technology-based solutions provided by growth companies, and the value chains that support each, as part of the pathway to net-zero commitments for Africa by 2050. www.inspiredevolution.co.za
About CrossBoundary Energy
CrossBoundary Energy develops, owns, and operates distributed renewable energy solutions for businesses, offering cheaper and cleaner energy through power purchase and lease agreements. With a US$550M portfolio of awarded, signed, in-construction, and operating energy assets, the company boasts over 400 MWp of solar PV, wind generation, and thermal projects and approximately 700 MWh of battery energy storage solutions. Its clients include industry leaders like Rio Tinto, Ivanhoe, Unilever, Diageo, Heineken, and the Devki Group. The diverse portfolio features large-scale renewable-led hybrid power plants for mines, rooftop and ground-mount solar PV plants for industrial clients and distributed solar PV and battery power solutions for telecommunications sites. As a member of the CrossBoundary Group, founded in 2011, CrossBoundary Energy is dedicated to unlocking the power of capital for sustainable growth and strong returns in underserved markets. Learn more at www.crossboundaryenergy.com
