Finnfund invests $5 million in CREI to expand solar-powered telecom infrastructure in South Sudan

Finnfund's $5 million investment in Communication & Renewable Energy Infrastructure (CREI) represents a strategic move to bolster sustainable telecom infrastructure in South Sudan. Backed by the European Fund for Sustainable Development Plus (EFSD+), the financing will facilitate the modernization and expansion of solar-hybrid energy systems for MTN South Sudan's extensive network of 499 telecom sites. This investment operates under a 10-year Energy as a Service (ESCO) contract, indicating a long-term commitment to providing reliable and renewable power to the telecom sector. The involvement of IBC Solar, a global provider of photovoltaic systems, further strengthens the project's technical expertise and potential for success. This deal is particularly noteworthy due to its focus on a challenging market like South Sudan, where access to reliable power is limited. By leveraging solar energy, CREI aims to reduce reliance on traditional fossil fuels, contributing to a more sustainable and resilient telecom network. The ESCO model ensures a stable revenue stream for CREI while providing MTN South Sudan with a cost-effective and environmentally friendly energy solution. The investment highlights the growing importance of renewable energy in supporting critical infrastructure development in emerging markets.