CrossBoundary Access Secures $10 Million IFC Investment to Expand Distributed Renewable Energy Projects in Africa

CrossBoundary Access has secured a US$10 million equity investment from the International Finance Corporation (IFC), a member of the World Bank Group, to accelerate the expansion of distributed renewable energy infrastructure across Sub-Saharan Africa.

The investment will support the development and scaling of CrossBoundary Access’s portfolio, which includes mini-grids, battery-as-a-service (BaaS) solutions, and other distributed clean energy technologies aimed at improving electricity access in underserved regions.

IFC’s funding is part of a broader group of institutional investors backing the company, including ARCH Emerging Markets Partners, Bank of America, the Microsoft Climate Innovation Fund, and the African Development Bank’s Sustainable Energy Fund for Africa (SEFA). The financing has also been enabled through the Global Energy Alliance, a blended finance initiative supported by the Rockefeller Foundation.

CrossBoundary Access said the new capital will help advance its mission of providing clean and reliable electricity to one million people across Africa. The company currently serves more than 170,000 people in Nigeria and Madagascar through projects developed with partners such as Ignite Energy Access, Mobile Power (MOPO), and ANKA.

The investment will further support ongoing project deployment in Nigeria and Madagascar, while enabling expansion into new Sub-Saharan African markets.

Commenting on the development, CrossBoundary Access Managing Director Humphrey Wireko said the investment strengthens the company’s ability to scale distributed energy solutions and expand access to reliable electricity for households and businesses.

IFC officials noted that mini-grids play a critical role in expanding energy access in rural and underserved communities, aligning with global efforts under Mission 300 to improve electricity access across Africa.

CrossBoundary Access Managing Director Gabriel Davies added that IFC’s participation reinforces growing confidence in mini-grid financing models and will help unlock additional capital to scale electrification efforts across the continent.