The Telecom Energy Service Company (TESCO) in South Sudan has been awarded $20 million to install, operate, and maintain 413 solar-powered telecom sites as part of the Africa Connected program. The project will significantly increase solar power production, decrease diesel usage, and enhance connectivity for more than two million people in one of the world’s poorest countries.
The Africa Connected program seeks to accelerate investments in digital infrastructure in Africa. “This investment is aligned with our goals for both digitalisation and climate action,” said Valtter Louhivuori, Head of the Nairobi office at Finnfund. “We see that improving mobile connectivity supports economic growth, improved living standards and an inclusive society.”
The financing package includes investments from Finnfund, the Facility for Energy Inclusion and the asset manager Communication & Renewable Energy Infrastructure (CREI). It will be used to finance CREI’s Telecom Energy Service Company in South Sudan, developing, building, operating, and maintaining energy assets.
In the fall of 2023, the EU and Finnfund officially signed the Africa Connected Program, an agreement to invest more than $1.082 billion for digital infrastructure and digital service platforms in Sub-Saharan Africa. The program’s overarching goal is to guarantee debt and equity to support sustainable development and growth in the Sub-Saharan region.
“The EU/Finnfund partnership reflects a collective effort to invest in commercially viable projects in the least developed and fragile countries,” Louhivuori said. “The primary focus of the fund is the least developed countries and fragile states in Sub-Saharan Africa. The program targets digital infrastructure providers, including mobile network operators, as well as digital platform businesses.”
By J. Sharpe Smith, Inside Towers Technology Editor
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