The Facility for Energy Inclusion (FEI) has subscribed to a bond issuance of AktivCo Holding, the energy services company (ESCO) of telecom infrastructure developer Camusat. The financing facility will be funding €7 million to AktivCo which provides clean energy services to telecom operators in Africa.
The FEI is a financing platform launched by the African Development Bank (AfDB), Norway’s development finance institution Norfund. The debt fund provides financial support to innovative clean energy access solutions and contributes to the electrification of Africa.
Through this recent fund commitment, the FEI has completed its first short-term financing. The fund raised is intended to support AktivCo’s growth in Chad, Niger, Cameroon, Ivory Coast, and Burkina Faso.
AktivCo develops solar energy power plants for telecom towers in Africa, replacing polluting diesel generators. Telecom clients benefit from outsourcing a significant part of their infrastructure while increasing their service uptime and reducing their carbon footprint.
Richard Thomas, CEO of Camusat Group, said, “With the support of FEI and Lion’s Head, Camusat is able to accelerate the deployment of its ESCO activities. It reinforces our ability to meet the Telecom Operators’ demand for green and efficient energy to secure their networks.”
The FEI is managed by LHGP Asset Management, part of Lion’s Head Global Partners. According to Orli Arav, the Head of Debt Funds at LHGP Asset Management, the recent transaction demonstrates the FEI’s ability to provide bespoke solutions to meet the needs of its customers and support their growth.
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