International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, has committed $10 million in equity financing to CrossBoundary Access to accelerate the deployment of solar mini-grids and battery storage systems across sub-Saharan Africa. The investment is aimed at expanding access to reliable, affordable, and sustainable electricity in underserved communities where traditional grid infrastructure remains limited.
CrossBoundary Access specializes in financing and owning distributed renewable energy assets that support rural electrification and off-grid energy access. The company currently provides electricity to more than 170,000 people in Nigeria and Madagascar and has set an ambitious target of reaching 1 million people with clean energy solutions in the coming years.
The new IFC funding will support the expansion of existing partnerships with renewable energy developers, including Ignite Energy Access and Mobile Power (MOPO) in Nigeria, as well as ANKA in Madagascar. The investment will also help the company explore new market opportunities across Africa, further strengthening its role in the continent’s growing decentralized energy sector.
Solar mini-grids and battery storage systems are increasingly recognized as cost-effective solutions for delivering electricity to remote and rural communities. These systems provide reliable power for households, schools, healthcare facilities, small businesses, and agricultural activities, helping to stimulate economic development and improve living standards. By reducing dependence on expensive diesel generators and traditional fuels, decentralized renewable energy projects also contribute to lower carbon emissions and greater environmental sustainability.
The IFC investment comes at a critical time for Africa’s energy transition. According to international energy assessments, limited access to long-term equity financing remains one of the biggest challenges facing the expansion of mini-grid and off-grid solar markets across the continent. Increased investment is essential to scale renewable energy infrastructure and close the electricity access gap affecting millions of people.
CrossBoundary Access has already demonstrated significant momentum in the sector. In 2025, the company partnered with ANKA on a $20 million renewable energy initiative in Madagascar designed to provide electricity access to more than 62,000 people. Earlier in 2026, it also acquired a portfolio of four operational solar mini-grids in Madagascar, adding 1.7 MW of solar generation capacity and 5.6 MWh of battery storage to its growing asset base.
The latest IFC investment is expected to strengthen CrossBoundary Access’s financial position, accelerate project deployment, and attract additional private-sector participation in Africa’s off-grid energy market. By supporting the expansion of decentralized renewable energy infrastructure, the initiative contributes to broader efforts to improve energy access, promote economic growth, create jobs, and advance sustainable development across sub-Saharan Africa.
