- EIF and Finnfund provide $20 million to CREI for solar energy projects in South Sudan’s telecom sector.
- CREI will use the funding to install at least 413 hybrid energy systems at telecom sites across South Sudan, enhancing solar energy use and reducing diesel dependency.
- The project aims to benefit 2 million people in South Sudan, improving connectivity, fostering economic growth, and supporting an inclusive society.
The Energy Inclusion Facility (EIF) and the Finnish Industrial Cooperation Fund (Finnfund) will provide $20 million in financing to Communication & Renewable Energy Infrastructure (CREI) to boost South Sudan’s telecommunications sector through solar energy.
EIF, part of the African Development Bank (AfDB), will offer a $15 million bridge loan. Finnfund will contribute a $5 million mezzanine loan. CREI will use these funds to develop, build, and operate renewable energy plants for telecom sites across South Sudan.
“This investment aligns with our goals for digitalisation and climate action. Better mobile connectivity promotes economic growth, improves living standards, and fosters an inclusive society,” said Valtter Louhivuori, head of Finnfund’s Nairobi office.
CREI, under Finnfund’s Africa Connected programme, plans to install at least 413 hybrid energy systems at telecom sites. These systems will increase solar energy use and reduce diesel reliance.
This $20 million investment will benefit at least 2 million South Sudanese. South Sudan, with a population of 11 million, faces limited connectivity, restricted infrastructure, and low mobile phone penetration.
EIF’s $15 million bridge loan will jumpstart the project, and Finnfund’s $5 million mezzanine loan will strengthen its financial foundation.
CREI will develop and operate the solar plants for a telecommunications player in South Sudan. This project will enhance solar energy production and decrease diesel use at network sites.
“Improving mobile connectivity in South Sudan will yield significant benefits,” Louhivuori said. “It will support economic growth and enhance living standards.”
South Sudan has long grappled with limited connectivity. The country’s telecom infrastructure remains underdeveloped, and mobile phone use remains low. This new investment aims to address these challenges.
The $20 million financing will support the construction and operation of hybrid energy systems. These systems combine solar energy with traditional power sources, cutting diesel use at telecom sites.
CREI plans to install at least 413 hybrid systems under the project. These systems will boost solar energy use and improve connectivity nationwide.
This project will benefit at least 2 million South Sudanese. Improved connectivity will drive economic growth and improve living standards.
EIF and Finnfund’s investment will aid South Sudan’s digital transformation, creating a more connected and inclusive society through renewable energy.