CREI Secures US$90 Million Financing to Expand Renewable Telecom Energy Infrastructure Across Africa

Cygnum Capital’s Facility for Energy Inclusion (FEI) and Norfund have completed a US$90 million long-term debt facility for CREI, a telecom energy service and asset management company operating under the two33 Group. The financing is aimed at expanding renewable energy infrastructure across several underserved African markets, including Mali, South Sudan, and the Central African Republic.

The funding package combines debt refinancing with fresh capital to support the company’s growth plans. Of the total amount, US$55 million will be used to refinance short-term bridge facilities that were originally provided by lenders in 2024. The remaining US$35 million represents new funding that will help accelerate ongoing and future renewable energy projects. Cygnum Capital’s FEI acted as the lead arranger for the transaction.

The financing is expected to strengthen CREI’s efforts to expand its energy-as-a-service business model. Through this approach, the company supplies mobile network operators with reliable, resilient, and cleaner energy solutions that support telecom infrastructure. Access to dependable power remains a major challenge in many remote and fragile regions of Africa, making energy solutions critical for maintaining network operations and improving connectivity.

With the new capital, CREI plans to deploy additional renewable energy assets in partnership with two33’s ieng Group. These investments are expected to modernize telecom energy infrastructure and increase the share of renewable energy in the company’s overall power generation portfolio to nearly 50%. The initiative is also expected to help telecom operators enhance service quality, improve network reliability, and extend coverage to underserved communities.

Company executives and investors welcomed the completion of the transaction. Ghada Ghotmeh, Chief Investment Officer of CREI Limited, said the successful closure of the facility demonstrates strong investor confidence in the company’s long-term strategy. She noted that the financing allows the business to transition from short-term bridge funding to a more scalable and sustainable capital structure capable of supporting future growth.

Representatives from Cygnum Capital and Norfund also highlighted the importance of the transaction. They emphasized that bridge financing can play a crucial role in helping infrastructure projects reach a stage where they can attract long-term funding. Such investments are particularly important in challenging markets where reliable energy and telecommunications services are essential for economic and social development.

Several international advisory firms supported the transaction. Ashurst LLP provided legal advisory services, SLR Consulting Limited conducted environmental and social reviews, Control Risks delivered context risk assessments, and 3E carried out technical evaluations. The successful completion of the financing reflects growing investor interest in supporting energy-resilient telecom infrastructure projects across Africa through long-term capital commitments.