CREI Secures $20M Funding for Telecom Energy in South Sudan

CREI Secures $20M Funding for Telecom Energy in South Sudan

By Staff Writer, 09 July 2024

The Communication and Renewable Energy Infrastructure (CREI), an asset management company, has secured $20 million in funding to support its Telecom Energy Service Company (TESCO) in South Sudan. This investment comes from the Facility for Energy Inclusion (FEI) and aims to provide “energy as a service” to a telecom stakeholder in the region through the development, construction, and management of energy assets.

In addition to the FEI funding, Finnfund, the Finnish development finance institution, has contributed a $5 million mezzanine loan to finance the project. This investment will facilitate the installation of 413 telecom site hybrid power solutions in South Sudan.

The integration of renewable energy to power telecom towers is set to reduce carbon emissions from fossil fuels and enhance the reliability of telecom operations. CREI, which manages a portfolio of telecom tower and renewable power assets across Africa and Asia, sees this partnership as a step towards leading the transition to sustainable telecom and energy infrastructure in these regions.

Kadri El Hakim, CEO of CREI, emphasized that the collaboration aligns with the organization’s mission to advance sustainable infrastructure. He highlighted that their joint efforts would significantly contribute to the growth and development of the telecom sector in East Africa.

Source: Ifeoma Joy Okorie / TechPoint Africa

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