How to connect from Power BI via API into IFS Cloud 23R2 to extract data for Reporting?

Please see https://docs.ifs.com/techdocs/23r2/050_reporting/450_self_hosted_bi_int/ .

In addition, you need to have the VPN in place from where you’re accessing in order to reach the database. Maybe the VPN was already built for migrations, but if not you can request it with a ‘Report something else’ ticket asking for a BI VPN connectivity (they’ll send a form to be filled in by your IT).

As you mention API, perhaps you are looking for a direct connection. Direct connections are not recommended, because BI activities produce a significant load on the IFS Oracle database causing performance issues for the regular usage of IFS Cloud.
The way IFS BI works is by transferring the data to an off-site BI database which can be queried by PowerBI. This solution is provided as supported by IFS, however, if required, it is technically possible to develop a non-supported solution using the same Access Views in IFS Cloud (details on Access Views through the menu of the link above).

@Marcel.Ausan how is this performance-wise?
While small queries can surely be run, wouldn’t this expose the system to daytime large queries that should rather be run off-peak or off-site?
Depends on the usage of course, I’ve heard some customers have been successful with direct access for small queries even though it is not recommended. It’s a fine line and should be used with insight.