Inspired Evolution backs CBE’s C&I solar portfolio with US$40M

Africa-focused commercial and industrial (C&I) renewable energy developer CrossBoundary Energy (CBE) has secured a US$40 million investment from South Africa-based investment firm Inspired Evolution to support the construction of its C&I solar energy portfolio.

Cygnum Capital served as CBE’s financial advisor and fundraising partner, helping structure and execute the transaction.

The investment arrives as CBE begins construction on a large hybrid energy project for the Baomahun Mine in Sierra Leone, operated by mining house FG Gold. The project will supply Africa’s largest copper mining complex as well as Sierra Leone’s largest gold mine.

Additionally, CBE announced significant progress on its Kamoa-Kakula Solar and BESS Baseload Facility for Kamoa Copper S.A. 

“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, Principal and Head of Investment at CrossBoundary Energy.

The investment, according to Inspired Evolution, reflects its conviction in scalable solutions to Africa’s power challenges. To date, the firm has mobilized over US$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,” said Wayne Keast, Co-Founder and Managing Partner at Inspired Evolution.

Felix Brand, Managing Director at Cygnum Capital added; “We have enjoyed supporting CrossBoundary Energy with their capital strategy as the business has scaled its renewable energy platform across Africa. This transaction signifies the importance of capital deployment in underserved markets to generate both strong commercial outcomes and create real impact.”

CrossBoundary Energy secured US$200 million in senior debt in November 2025, representing the second tranche of a portfolio financing facility arranged by The Standard Bank of South Africa Limited (SBSA). The facility’s first tranche was closed in December 2024.