A specialised clean power infrastructure Evolution II Fund, together with Norfund and Sagemcom, led a $35 million equity investment to establish and finance ESCOTEL, an energy services company currently focused on sub-Saharan Africa countries.

Headquartered in Mauritius, ESCOTEL has been set up to provide energy services to mobile tower owners and operators, owning and operating decentralised renewable energy infrastructure across Africa.

ESCOTEL will initially supply, install, operate and maintain decentralised solar and storage hybrid power systems for a portfolio of around 900 telecom sites in Sierra Leone, Liberia and over time the Democratic Republic of Congo, owned by subsidiaries of France-based telecommunications company, Orange S.A.

Evolution II has committed $20 million alongside $10 million from Norfund and $5 million from Sagemcom Energy & Telecom, which will also act as an equipment supplier, EPC contractor and O&M provider to ESCOTEL.

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Source: EsiAfrica