CrossBoundary Access and ANKA Illuminate Madagascar
Deal News | Jun 12, 2025 | arch emerging markets partners
CrossBoundary Access and ANKA have launched a $20 million partnership to develop and operate mini-grids in Madagascar, aiming to connect over 62,000 people to electricity by 2026. This collaboration marks CrossBoundary Access's expansion beyond Nigeria and strengthens ANKA's footprint in decentralized energy projects. The mini-grids will incorporate solar PV generation and battery storage, delivering reliable electricity to areas lacking access. Madagascar's low electrification rates and supportive regulatory framework present a ripe environment for investment. The initiative underscores CrossBoundary Access's commitment to renewable energy solutions across Africa.
Sectors
- Renewable Energy
- Infrastructure
- Investment
Geography
- Madagascar – The project is specifically taking place in Madagascar, targeting its electrification gap.
- Africa – The initiative is part of a broader focus on Africa by CrossBoundary Access to provide sustainable energy solutions across the continent.
Industry
- Renewable Energy – The article discusses a project involving solar PV generation, which is a key aspect of the renewable energy industry.
- Infrastructure – The creation and operation of mini-grids in Madagascar involve significant infrastructure development.
- Investment – The partnership indicates financial investment in developing mini-grid solutions, a vital component of the investment sector.
Financials
- $20 million – The total investment in the mini-grid portfolio in Madagascar.
- $25 million – Initial funding received by CrossBoundary Access during its first close in 2022.
- $10 million – Additional funding secured by CrossBoundary Access in 2023 from AfDB’s SEFA.
- $150 million – Total amount CrossBoundary Access aims to raise and deploy for clean energy projects over the next three years.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CrossBoundary Access | Development Partner | Company | Africas first blended finance platform for mini-grids, leveraging innovative financing for renewable energy solutions. |
| ANKA | Development Partner | Company | An impact-driven group focused on renewable energy infrastructure and universal electricity access. |
| ARCH Emerging Markets Partners | Investor | Company | Provided financial support to CrossBoundary Access's mini-grid initiatives. |
| Bank of America | Investor | Company | Invested in CrossBoundary Access during its first close. |
| Microsoft Climate Innovation Fund | Investor | Company | Contributed to CrossBoundary Access's funding for renewable energy projects. |
| AfDB’s Sustainable Energy Fund for Africa (SEFA) | Investor | Company | Extended additional funding to CrossBoundary Access. |
| Camille Andr-Bataille | CEO and Founder of ANKA | Person | Provided insights on the significance of the partnership for ANKA. |
| Humphrey Wireko | Managing Director, CrossBoundary Access | Person | Commented on CrossBoundary's expansion into the Malagasy market. |
| Terry Otinga | Senior Investment Associate, CrossBoundary Access | Person | Emphasized ANKA's operational excellence in the partnership. |