Americas

News: Caban Energy banks US$50mn and wins Digicel‑Jamaica solar deal

17 April 2025
3 minutes
Latin American power‑as‑a‑service pioneer steps up rollout after fresh equity raise and first Caribbean contract with Digicel and PTI
Caban Energy.jpg
Caban Energy.jpg

Caban Energy, the clean‑power specialist that finances, builds and operates energy systems for telecom infrastructure, has landed two milestones in as many weeks. On 15 April the company confirmed a US$50mn equity top‑up led by majority shareholder Ember Infrastructure, capital the firm says will “accelerate the delivery” of its fully‑financed energy‑as‑a‑service (EaaS) model across the Americas and the Caribbean. The raise follows several project‑finance lines secured earlier this year and means Caban now has both debt and equity fire‑power to scale deployments.

Just days earlier, on 26 March, Digicel Group named Caban as its renewable‑energy partner for Jamaica. The multi‑year programme—delivered partly alongside Phoenix Tower International (PTI)—will retrofit solar‑plus‑storage at Digicel macro sites and data‑centre facilities. When fully built the portfolio should abate 38,674 tCO₂e a year (an estimated 580,000 tCO₂e over the project life) while hardening back‑up resilience for a network battered by Hurricane Beryl last July.

TowerXchange understands that Jamaica is the first of up to 25 Digicel markets earmarked for Caban’s solution, a move that could see the ESCO model gain meaningful scale in the Caribbean. Digicel CEO Marcelo Cataldo framed the deal as “the shape of things to come”, signalling group‑wide intent to outsource power as it pursues its ESG road‑map.

Founded in 2018, Caban combines lithium‑ion battery packs assembled at its Plano, Texas plant with proprietary EMS software and long‑term service contracts. By shouldering capex and O&M risk, it offers towercos and MNOs an alternative to diesel‑heavy self‑generation—still common across Latin America—while guaranteeing predictable energy fees. The company claims live systems in 12 countries and contract wins with “several of the world’s largest telecom operators.”

With fresh capital secured, Caban’s immediate priorities are twofold: executing the Jamaican rollout—expected to run through 2026—and converting what it calls a “robust” pipeline of tower‑power projects in Central America and the Andean region. TowerXchange will be watching closely to see whether Caban’s blend of hardware, software and structured finance can unlock a wider wave of ESCO adoption in a region where MNOs still own the majority of off‑grid energy assets.

TowerXchange ESCO towerco report.png

Download TowerXchange's latest ESCO Report to learn more about the business model

We bring together MNOs, towercos, investors, equipment and service providers to share best practices in passive and active infrastructure management, opex reduction, and to accelerate infrastructure sharing and more cost-effective and wider mobile connectivity.