Communication & Renewable Energy Infrastructure (CREI), a company that provides energy solutions for telecommunications infrastructure, has secured $90 million in financing to expand renewable energy projects across Africa.
The funding was provided by asset management firm Cygnum Capital and Norwegian development finance institution Norfund through the Facility for Energy Inclusion (FEI) fund. The investment highlights growing interest in clean energy solutions as telecom companies across Africa seek more reliable and cost-effective alternatives to diesel-powered systems.
According to the companies involved, the long-term financing package will support the installation and operation of renewable energy systems that power mobile network infrastructure in countries including Mali, the Central African Republic, South Sudan, and several other African markets.
Out of the total financing, $55 million will be used to refinance bridge loans that CREI secured in 2024. The remaining $35 million will serve as fresh capital to help the company expand its operations and increase the deployment of renewable energy projects across the continent.
CREI operates under an Energy as a Service (EaaS) model. Under this arrangement, the company finances, owns, and manages energy equipment used by telecom operators. This allows mobile network providers to benefit from modern energy technologies without making large upfront investments.
The company said the new funding will significantly increase the use of renewable energy within its telecom energy portfolio. The project is expected to nearly double the share of renewable energy used in the facilities covered by the investment.
In a statement, Cygnum Capital noted that the financing would help modernize telecom energy infrastructure in several African countries. The firm added that the renewable energy share of electricity generation in the supported assets is expected to rise to nearly 50 percent.
The investment comes at a time when many telecom operators across Africa are looking for alternatives to diesel generators. Diesel remains the dominant source of power for many telecom towers, especially in areas where access to stable electricity is limited.
Research by CrossBoundary Access shows that about 70 percent of Africa’s estimated 500,000 telecom towers still rely on diesel fuel. While diesel generators have long been used to ensure uninterrupted service, they are increasingly expensive to operate due to fluctuating global fuel prices, transportation challenges, and supply disruptions.
Many telecom sites are located in remote regions, making fuel delivery both costly and difficult. These challenges have encouraged operators to explore cleaner and more efficient energy solutions.
Hybrid energy systems that combine solar power with battery storage are becoming a popular alternative. These systems can reduce fuel consumption, lower operating expenses, and improve the reliability of power supply for telecom networks.
Industry experts say the Energy as a Service model is also helping accelerate the transition to cleaner energy by removing the burden of upfront capital costs from telecom companies. According to CrossBoundary Access, telecom operators can achieve savings of between 20 and 40 percent when using renewable energy solutions compared to systems that depend mainly on fossil fuels.
With the new $90 million financing package, CREI is expected to strengthen its position as a key player in Africa’s growing clean energy and telecommunications sectors.
