IFC invests US$10 million equity in CrossBoundary Access to expand distributed renewable energy in Africa

Type: Investment · Technology: Solar · Country: Africa · Capacity: 4 MW · Value: $10M · Announced: 2026-06-24

The International Finance Corporation (IFC) announced a US$10 million equity investment in CrossBoundary Access on June 24, 2026, to finance the continued construction and expansion of distributed renewable energy assets across Sub-Saharan Africa. This investment supports CrossBoundary Access's portfolio of mini-grids, battery-as-a-service (BaaS), and adjacent technologies, aiming to bring clean, reliable power to one million people. IFC joins a consortium of investors including ARCH Emerging Markets Partners, Bank of America, Microsoft Climate Innovation Fund, and the African Development Bank's Sustainable Energy Fund for Africa (SEFA). The funding will support projects with partners like Ignite Energy Access and Mobile Power (MOPO) in Nigeria, and ANKA in Madagascar, where CrossBoundary Access currently provides power to over 170,000 people with an operating portfolio of over 4MW of PV solar and 8.5MWh of battery storage. This investment is enabled through financing from the Global Energy Alliance, a blended finance facility supported by the Rockefeller Foundation.

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