The financing replaces $55 million in short-term bridge funding previously provided by the two lenders in 2024.

It introduces an additional $35 million in fresh capital to support CREI’s growth plans across the continent.

The funding will help the company expand its energy-as-a-service model, which provides mobile network operators with resilient and sustainable power infrastructure, enabling better network performance and broader coverage in underserved areas.

The transaction comes at a time when telecommunications operators across Africa are facing rising energy costs and persistent power reliability challenges.

In many markets, telecom towers rely heavily on diesel generators due to weak electricity grids, which increases operating expenses and limits network expansion.

Energy-as-a-service providers such as CREI are emerging as important partners for mobile operators by deploying and managing renewable and hybrid power systems that reduce costs while improving uptime.

The latest facility will support CREI’s operations in several challenging but strategically important markets, including Mali, South Sudan and the Central African Republic.

These countries continue to face significant infrastructure gaps despite growing demand for mobile connectivity and digital services.

Thibault Neveu, Managing Director and FEI Co-Fund Lead at Cygnum Capital, said the transaction demonstrates how long-term capital can help accelerate infrastructure deployment in markets that often struggle to attract commercial financing.

“This transaction marks a significant milestone in bringing sustainable energy solutions to some of Africa’s most challenging yet promising markets – strengthening telecommunications infrastructure, driving economic growth, and advancing digital inclusion where it is needed most,” Neveu said.

He added that the refinancing of the earlier bridge facilities in Mali and South Sudan, alongside the expansion of financing to the Central African Republic and other African markets, validates FEI’s approach of using short-term bridge capital to support project deployment before securing longer-term funding.

“We are proud to support CREI in this next chapter of its African expansion and look forward to the lasting impact this investment will create,” he said.

The Facility for Energy Inclusion was established to increase access to financing for renewable energy and energy access projects across Africa.

Backed by development finance institutions and impact investors, the platform has played a growing role in mobilising capital for smaller-scale energy infrastructure projects that are often overlooked by traditional lenders.

For Norfund, the investment represents a further expansion of its efforts to finance renewable energy and essential infrastructure in frontier and fragile markets across sub-Saharan Africa.

“Norfund is proud to strengthen its partnership with CREI and support its expansion across sub-Saharan Africa,” said Birgit Edlefsen, Senior Vice President at Norfund.

“This second financing to the company, a long-term facility, marks a significant milestone, extending our reach beyond Mali to now include South Sudan and the Central African Republic. It reflects Norfund’s commitment to bringing renewable energy and essential infrastructure to fragile states and challenging markets.”

Edlefsen said the investment is expected to support economic growth, employment creation and greater stability in the countries where CREI operates.

The deal highlights growing investor interest in the intersection of digital infrastructure and clean energy across Africa.

As mobile connectivity becomes increasingly important for commerce, financial services, education and public services, reliable power infrastructure is emerging as a critical requirement for network expansion.

By financing sustainable energy solutions for telecom operators, the transaction addresses two of Africa’s key development priorities simultaneously: expanding digital access and strengthening energy infrastructure.