CrossBoundary Energy Solar and BESS Project (MIGA-15533)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Congo, Democratic Republic of
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kolwezi, Lualaba Province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 17, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
CrossBoundary Energy Holdings
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 237.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Oct 2, 2026

Disclosed by Bank Nov 17, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated on the project disclosure page, MIGA has been requested to provide guarantees to cover equity and shareholder loans from CrossBoundary Energy Holdings (CBE), the Guarantee Holder ("GH"), in CrossBoundary Energy DRC I SASU, the Project Enterprise (PE) incorporated in the Democratic Republic of Congo (DRC).

The Project involves the design, construction, and operation and maintenance (O&M) of a 233 megawatt peak (MWp) solar photovoltaic (PV) plant and battery energy storage system (BESS) with capacity of 123 megavolt-amperes (MVA)/561 megawatt-hour (MWh), within the Kamoa-Kakula mining complex (the Project). The proposed tenor of the guarantee for the Project is up to 15 years. Further information on the proposed MIGA guarantees is available in the Summary of Proposed Guarantee.

The Project will exclusively supply 30 MW baseload power to Kamoa Copper SA (KCS), CBE's off-taker, to provide a stable and continuous supply of electricity for the operation of the Kamoa-Kakula mining complex (the Kamoa mine). The Kamoa mine, is located in Kolwezi, Lualaba Province, approximately 270 kilometers (km) northwest of the provincial capital, Lubumbashi, in southern DRC.

The Project comprises a solar PV plant, BESS, powerhouse, office and O&M building, inverters, transformers, internal access paths, site drainage and perimeter security and others. The Project footprint covers approximately 163 hectares (ha), of which about 153 ha will be utilized for PV module arrays. The Project is located approximately 20 km away from the main Kamoa mine infrastructure. Electricity generated by the Project will be transmitted to the Kamoa central mining substation via an approximately 10 km 33 kilovolt (kV), overhead transmission line.

The Project is one of two awarded by KCS to Independent Power Producers (IPPs). Both plants will be developed side by side within the area designated by KCS, with a combined capacity of 400 MWp of solar PV and 1,100 MWh of BESS. CBE has no control or leverage over the activities of the other IPP. To support the solar plants and future expansions, KCS will be responsible for the construction and O&M of the overhead transmission line serving both projects, as well as the 1.3 km access road. Although an existing access road to the solar plants is in place, an alternative unpaved alignment is being considered from the main turn-off, to reduce traffic interactions with nearby communities. Both the access road and the transmission line will remain under KCS's responsibility for construction and O&M. These facilities are not considered associated facilities to the Project, as they would have been developed irrespective of the Project. The Kamoa mine is also not considered an associated facility, as it is not dependent on the Project and can use or install alternative sources of power.

Soventix has been appointed as the Engineering, Procurement and Construction (EPC) contractor overseeing overall Project management, MSS is responsible for civil works, and T3 for electrical works. These firms are collectively referred to in this document as the "core contractors", responsible for construction activities. Construction of the Project commenced in May 2025 and is expected to span approximately 12 months, with peak construction anticipated in the first quarter of 2026. CBE will be responsible for O&M.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the FMO (a financier of the company), CrossBoundary Energy (“CBE”) is a leading developer, owner, and operator of renewable energy systems for private commercial and industrial (“C&I”) customers in Africa. It operates as a distributed Independent Power Producer (“IPP”), providing financed, integrated energy solutions that provide cleaner power under an energy-as-a-service business model, with all projects aggregated into a single platform and financed at the portfolio level. Since 2015, CBE has built up a portfolio of over 28 operational assets (62 MW generation capacity + 28 MWh battery energy storage system or BESS) in 10 African countries. Shareholders include ARCH Africa Renewable Power Fund (“ARCH”, 40%), a joint venture between Norway’s biggest pension fund and Norfund (“KLP Norfund”, 35%), and CrossBoundary Energy Management (25%).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - CrossBoundary Energy Holdings Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Cross Boundary Energy: 

Address: SkyPark Plaza, Waiyaki Way, Westlands, Nairobi, Kenya 
Email: contact@crossboundary.com 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works