Exciting news from FEI, Finnfund, and CREI! They have teamed up to finance a US$20 million project for CREI’s Telecom Energy Service Company (TESCO) in South Sudan, marking a significant milestone in sustainable energy and telecom infrastructure.
FEI and CREI secured a US$15 million bridge facility, while Finnfund provided a US$5 million mezzanine loan, underscoring their commitment to advancing renewable energy solutions in challenging markets like South Sudan.
Carmen de Castro, Managing Director at Cygnum Capital, praised the collaboration, highlighting FEI’s pivotal role in delivering tailored financial solutions across Africa’s TESCO sector.
Valtter Louhivuori, Head of Finnfund’s Nairobi office, emphasized the project’s alignment with digitalization and climate action goals, foreseeing enhanced economic growth and societal inclusivity through improved mobile connectivity.
The initiative will deploy 413 hybrid power solutions, significantly boosting solar energy production and reducing diesel consumption, benefiting over 2 million people in South Sudan.
Kadri El Hakim, CEO of CREI, expressed confidence in the partnership’s ability to drive sustainable telecom and energy infrastructure development across Africa and Asia, fostering lasting positive impacts.
#FEI #Finnfund #SustainableEnergy #TelecomInfrastructure #SouthSudanDevelopment #ImpactInvesting
