Renewables in mining get a funding lift

November 23, 2025

Dear subscriber,

Sectors such as mining were long viewed as hard to decarbonise, yet renewables are fast reshaping that narrative. One company in particular is helping drive this shift.

– Sammy Jamar, Editor

Energy-as-a-service provider CrossBoundary Energy has secured $200 million in debt to expand its renewables portfolio across Africa. The deal completes the second tranche of a financing facility arranged by Standard Bank, following an initial close in late 2024. It brings the firm’s total raises in 2025 to $820m, including a de-risking facility from MIGA.

  • The new raise brings in new lenders, including Absa, MCB, FEI, DEG and FMO. The funds will support new projects for mining, heavy industry and telecoms, including the landmark Kamoa-Kakula solar and storage project in the DRC.

  • Energy-as-a-service is becoming popular with firms that need reliable, clean power without heavy upfront costs. It offers stable long-term pricing and helps developers like CrossBoundary scale faster through bundled financing.

  • Our take: There is a need for standardised licensing and clear policies to attract multi-country operators to reduce risk and speed up project deployment… Read more (2 min)

The Electricity Sector Association of Kenya (ESAK)  held its first Power and Transmission Baraza event under the theme “Dialogues for a better Electricity Market”. The forum brought together sector leaders to discuss the industry’s direction and investment needs at a time when rising demand has pushed the reserve margin below the preferred 10 to 15%.

  • The dialogue follows the lifting of a seven-year PPA freeze. Sector leaders are hopeful this will open the way for new generation and support the expansion of captive power through better frequency regulation.

  • Even with captive growth, transmission remains one of the biggest grid gaps. Transmitter KETRACO estimates the country needs about $250 million each year for the next 20 years to upgrade the network to an adequate standard.

  • Our take: Cross-border trade could be cheaper than building redundant domestic capacity… Read more (2 min)

Zambia is facing one of its worst power shortages in years, creating an opening for off-grid players. Solar Panda has responded by acquiring Vitalite Zambia to speed up its expansion. We spoke with Managing Director Oli Machado-Bowler about why this moment matters, what the market signals show and how PAYGo fits into the company’s plans.

  • It’s been an exciting year for Solar Panda. Having spent close to ten years in Kenya, the company expanded into Senegal, Zambia and Benin in less than half a year.

  • Mr Machado-Bowler sees strong upside in Zambia’s off-grid market. “We’re seeing demand from people who weren’t the intended market, which says a lot about the size of the opportunity.”

  • Read the full interview here…(2 min)

IFC and South Africa’s Presidential Climate Commission sign a deal to boost climate finance (Source: IFC Africa)

Events

🗓️ Take part in the Financing Electricity Access in Africa webinar (Nov 24)

🗓️ Sign up for South Africa's largest solar survey results webinar (Nov 25)

🗓️ Be at the Africa Energy Expo 2025 (Nov 25)

Jobs

🦺 Become d.light’s Business Development Manager (Nigeria)

👷 Join Engie as a Mechanical Engineer (South Africa)

👷🏻‍♀️ Apply to Energicity’s Customer Operations Manager role (Liberia)

Various

🚗 Burkina Faso kicks off solar EV production backed by China

💵 MCFA awards $1 million to scale electric cooking in Zambia

☀️ Inside Zanzibar’s effort to upskill marginalised women in solar power

💡 UNDP rolls out new report on insurance for energy access in rural communities

Seen on LinkedIn 

Mary Njuguna, Production Sync Engineer at Savanna Circuit, says, “For years, agriculture and energy have been treated as separate stories, yet one cannot progress without the other.”