Norfund, the Norwegian Investment Fund for developing countries has announced a US$16mn investement in Communication and Renewable Energy Infrastructure (CREI) to build a solution that provides power to 2,876 towers and ensure stable and reliable mobile coverage in Mali. The towers are in both rural and urban areas in the country.

CREI is an asset manager holding a portfolio of telecom tower and renewable power assets across Africa and Asia. The solution that CREI will build for mobile towers across the country consists of solar panels combined with batteries, so that the towers have power even when the sun is not shining. Diesel will also continue to play a minor role as a back-up. The country has been affected by armed conflict for over a decade and strengthening its telecom infrastructure is seen as empowering economic growth and digital inclusion.

“This investment 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,” Birgit Edlefsen, SVP at Norfund commented.

By using a combination of solar and battery, we not only contribute to extended and more stable coverage in both rural and urban areas in Mali but also to economic growth and local job creation, as part of Mali’s digital transformation,” saiad Kadri El Hakim, CEO at CREI.

Join TowerXchange Meetup Africa in Nairobi this September to hear more on the continent’s telecom and digital infrastructure and where it will go next.