CrossBoundary Energy C&I Africa Portfolio
Project Description
On June 30, 2025, the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, executed framework terms amounting to USD495 million with CrossBoundary Energy Holdings of Mauritius (CBE), for its equity, quasi-equity, shareholder loan investments into their renewable energy subsidiaries in 20 African countries against the risk of Transfer Restriction and Currency Inconvertibility for a period of up to 15 years: Côte d’Ivoire, Democratic Republic of Congo, Egypt, Eswatini, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia.
The project consists of the development, construction, financing, and operation of distributed renewable energy infrastructure across Africa, aimed at commercial and industrial (C&I) customers. Through its fully integrated energy platform, CBE offers a turn-key solution that includes the design, installation, and post-construction asset management of solar PV systems, wind farms, battery energy storage systems (BESS), and hybrid power solutions. The company enables C&I clients, ranging from local businesses to multinational corporations, to improve power reliability, and reduce their carbon footprint, without the burden of self-developing complex energy projects.
CBE operates under an innovative ownership model that allows clients to access renewable power through long-term contracts without upfront capital expenditure. This approach has supported widespread adoption of renewable energy across key sectors such as mining, manufacturing, and telecommunications.
By mobilizing private capital and leveraging frontier market expertise, CBE is unlocking access to clean, resilient energy systems for businesses across Africa. This project represents a key milestone in demonstrating how scalable C&I renewable energy investments can contribute to climate change mitigation, sustainable economic development, and greater energy independence on the continent.
MIGA will leverage a first loss risk sharing of up to $61.5 million from the IDA Private Sector Window-MIGA Guarantee Facility, which will be applied across individual guarantees for IDA-eligible countries, including the Democratic Republic of Congo, Guinea, Mali, Madagascar, Malawi, Mozambique, Rwanda, Sierra Leone, Uganda, Tanzania, and Zambia.
MIGA will also leverage the Renewable Energy Catalyst Trust Fund for a first loss risk participation of up to $37.6 million, to be applied across individual guarantees for non-IDA-eligible countries, including Côte d’Ivoire, Egypt, Eswatini, Ghana, Kenya, Namibia, Nigeria, Senegal, South Africa.
Environmental and Social Categorization
The Project is a Category A under MIGA’s Policy on Environmental and Social Sustainability (2013). Click here to view the Environmental and Social Review Summary.
Development Impact
The Project is expected to (i) expand access to affordable, clean, and reliable power for commercial and industrial consumers across Africa, in alignment with the strategic priorities of the respective Country Partnership Frameworks (CPF) and Country Partnership Strategies (CPS); (ii) support private sector growth, job creation, value-added production, and competitiveness in key industrial sectors by improving electricity quality and reducing costs; (iii) reduce GHG emissions and local pollutants by displacing diesel-based and other carbon-intensive power generation sources; and (iv) demonstrate the commercial viability of distributed renewable energy in frontier and fragile markets.
CBE’s model provides stable and cost-effective power alternatives to unreliable national grids and diesel generators, which are often characterized by high operating costs, poor fuel security, and elevated environmental impact. By deploying renewable energy and battery storage systems tailored to client needs, the Project strengthens operational efficiency, reduces power-related disruptions, and contributes to the achievement of national and corporate decarbonization targets.
The Project further showcases how private-sector-led, energy-as-a-service platforms can deliver scalable, permanent infrastructure solutions even in markets with weak policy and regulatory frameworks. The demonstration effect of CBE’s approach is expected to catalyze further investment into captive renewable energy systems, enhance local resilience, and promote long-term energy transition pathways for corporates operating in Africa’s most challenging contexts.