In March 2025 the Facility for Energy Inclusion ("FEI") and Norfund (the “Lenders”) signed agreements to provide USD40 million of bridge facilities to Communication & Renewable Energy Infrastructure (CREI), the asset management company of ieng Group. The financing will enable CREI to provide ‘energy as a service’ to a leading mobile network operator in Mali, and marks a major step toward a greener telecoms industry in the Sahel region, whilst driving economic growth and job creation.
Telecom towers and other network infrastructure require substantial amounts of power to operate due to the need for constant connectivity and the increasing demands of technologies like 5G and data-intensive services. This ground breaking investment will help modernise the energy infrastructure of telecoms towers across Mali by deploying hybrid renewable energy solutions with battery storage, significantly enhancing network availability and sustainability, whilst reducing fuel consumption and the sector’s carbon footprint. This will ensure a greener, more efficient and reliable energy supply for telecoms operators, and bring the cost down for consumers.
FEI, which is managed by global investment bank and asset manager, Cygnum Capital, acted as the lead arranger for the transaction.
“Securing the financing for CREI’s Telecom ESCO initiative in Mali underscores the shared commitment of our financial partners to high-impact investments in emerging markets, reinforcing the country’s growing role as a promising hub for sustainable development. By deploying solar hybrid energy solutions to power telecom infrastructure, we are not only enhancing network reliability and coverage across urban and rural areas but also driving economic growth, creating local jobs, and contributing to Mali’s digital transformation.” said Kadri El Hakim, CEO of CREI.
“This transaction marks a significant milestone in advancing sustainable energy solutions for Mali’s telecom sector, ensuring it benefits from cleaner, more affordable, and reliable power. By facilitating this investment, FEI reaffirms its leading role in financing renewable energy solutions in emerging markets, not only to strengthen telecommunications infrastructure but also to drive economic growth and digital inclusion across the continent. FEI remains dedicated to supporting CREI in its expansion across Africa.” said Thibault Neveu, Executive Director and FEI Co-Fund Lead at Cygnum Capital.
“Norfund is thrilled to partner with CREI and support their efforts and expansion in Sub-Sahara Africa. The investment marks a significant achievement. It underscores Norfund's dedication to promoting renewable energy solutions in fragile states, bolstering economic resilience, and developing essential infrastructure in challenging environments. By backing CREI in Mali, we aim to foster conditions conducive to economic growth, job creation, and enhanced stability in the region.” said Birgit Edlefsen, Senior Vice President at Norfund.
