Energy Transition/ Private Equity & Venture Capital/ Social

Lightrock Raises $500 Million to Scale Clean Energy Access in Emerging Markets

Kenny Fisher May 15, 2026

Sustainability-focused private equity investor Lightrock announced that it has raised $500 million in commitments for Accelerate7, a new fund aimed at supporting businesses expanding access to clean energy and sustainable energy solutions across across Sub-Saharan Africa, South Asia and Southeast Asia

According to the company, more than 660 million people globally still lack access to electricity, while approximately 2.1 billion people continue to rely on polluting or hazardous cooking fuels, posing significant barriers to economic development and quality of life.

Accelerate7 is the brand identity for the Energy Access Acceleration Fund, a Lightrock investment strategy developed in partnership with Southeast Asia-focused investment platform TRIREC. The strategy is focused on backing growth-stage companies aligned with UN Sustainable Development Goal (SDG) 7, which targets affordable, reliable, sustainable and modern energy access for all.

The fund will target investments across Sub-Saharan Africa, South Asia and Southeast Asia, with typical initial investment sizes ranging from $10 million to $50 million. Accelerate7 will focus on three key sectors, including access to electricity, clean cooking, and enabling technologies and solutions, including electric mobility and energy storage.

To date, the new fund has completed four investments, including rooftop soslar system provider SolarSquare, off-grid solar energy company Sun King, India-based electric vehicle manufacturer Euler Motors, and IoT-enabled clean cookstove provider ATEC Global.

The company added that Accelerate7 is backed by a group of leading investors and major energy corporates, including Equinor, Shell, TotalEnergies, and LGT, among others. With the launch of the new strategy, Lightrock said that its total capital dedicated to energy transition, energy access and climate investments has reached approximately $2 billion.

Ademidun (Demi) Edosomwan, Partner & Head of Energy Access at Lightrock, said:

“Across the Global South, access to reliable energy and modern cooking solutions remains one of the clearest drivers of economic opportunity and improved quality of life. With Accelerate7, we are backing businesses that have already demonstrated strong execution and are ready to scale. Our focus is on finding proven operators with resilient business models that can deliver both meaningful impact and long-term value.”