Distributed renewable energy solutions developer CrossBoundary Energy (CBE) and Standard Bank South Africa announced on Monday, July 14, the closing of a $60 million subordinated loan to finance advance purchases for the solar unit for the Kamoa-Kakula copper complex in the Democratic Republic of Congo.

Guarantees will be implemented according to a portfolio structure, which will simplify the issuance of guarantees for each project. This approach will allow the CBE to extend its operations to around a hundred projects, in particular in 11 IDA countries and 4 fragile or conflict-affected countries. Decentralized renewable energy projects will improve the reliability and quality of electricity and reduce energy supply costs for businesses. These solutions strengthen the resilience and competitiveness of local businesses, supporting industrial productivity and promoting job creation.

“This innovative, portfolio-based approach demonstrates how MIGA allows investors like CrossBoundary Energy to expand more quickly and easily across multiple African markets,” said Hiroshi Matano, Executive Vice President of MIGA. “By simplifying the guarantee process, we are helping to unlock large-scale investments in renewable energy, especially in underserved and fragile markets, while supporting job creation, economic resilience, and sustainable growth across the continent.

MIGA will benefit from up to $61.5 million in first-loss risk sharing from IDA's MIGA-Window Guarantee Facility, which will be applied to individual guarantees for individual guarantees for IDA-eligible countries, including Democratic Republic of Congo, Guinea, Mali, Madagascar, the Malawi, Mozambique, Rwanda, Rwanda, Sierra Leone, Sierra Leone, Sierra Leone, Uganda, Tanzania, and Zambia.

MIGA will also rely on the Renewable Energy Catalyst Trust Fund for up to $37.6 million in first loss risk, to be applied to individual guarantees for countries not eligible for IDA, including Côte d'Ivoire, Egypt, Eswatini, etc. ria, Senegal and South Africa.

Project aggregation to facilitate investment and reduce risks is a central theme for the distributed renewable energy (ERD) sector and for MIGA's Mission 300 strategy. This transaction is characterized by the powerful combination of CBE's enterprise-level project aggregation, which brings together a portfolio of multiple C&I projects on a single platform, and MIGA's portfolio guarantee structure. Together, these characteristics allow distributed energy companies to access long-term commercial bank financing, which has historically struggled to grow due to the fragmentation of their investments and the complexity of their risk profiles