Asset manager CREI gets $25m to 'green' telecom towers in South Sudan
TLDR
- CREI secures $20 million from FEI to finance TESCO in South Sudan for "energy as a service" telecom project.
- Finnfund provides $5 million mezzanine loan to support the development of 413 hybrid power solutions for telecom sites in South Sudan.
- Funding aims to enhance South Sudan's telecom infrastructure and energy efficiency through energy asset management.
The Communication and Renewable Energy Infrastructure (CREI), an asset management company, has secured $25 million to finance its Telecom Energy Service Company (TESCO) in South Sudan.
The funding includes $20 million from the Facility for Energy Inclusion (FEI) to allow CREI to offer “energy as a service” to a telecom stakeholder in South Sudan by developing, building, and managing energy assets.
Finnfund, the Finnish development finance institution, has also contributed a $5 million mezzanine loan to support the project. This financing will enable the installation of 413 telecom site hybrid power solutions in South Sudan, enhancing the region's telecom infrastructure and energy efficiency.
Points clés à retenir
South Sudan has one of the lowest rates of mobile access and connectivity in the world. According to reports, there were 1.36 million internet users in South Sudan in January 2024, with an internet penetration rate of 12.1% at that time. The project will significantly boost solar power production, benefiting over 2 million people by enhancing the reliability of mobile connections. More so, using renewable energy to power telecom towers will reduce carbon emissions from fossil fuels and improve the reliability of telecom operations. This initiative aims to address the country's connectivity challenges while promoting sustainable energy solutions.
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