Finnfund’s USD 10 million investment makes telecommunications in Lebanon and Guinea more reliable and energy-efficient
IPT PowerTech Group is an energy solutions provider combining specialized energy-efficient solutions with innovative telecom infrastructure. With financing from Finnfund, DEG, Proparco and European Investment Bank, IPT will modernize the energy supply infrastructure in Lebanon and Guinea. The hybrid solution utilizing solar panels and storage media will save up to 40% of energy and reduce diesel consumption significantly. The annual CO2 emission reductions have been calculated AT 115,000 tons per year.
In emerging economies, the lack of reliable power to cellular tower sites is the single biggest obstacle to reliable mobile phone services. Cellular towers located in areas without access to reliable electricity grids – or any electricity grid at all – have to be powered by diesel generators with high operating costs and environmental impacts.
IPT will make power generation more efficient and more sustainable using solar power and storage media. Batteries will store excess power so that green energy is available at any time of the day. “Fragile countries and renewable energy solutions are at the core of Finnfund’s strategy”, says Finnfund’s Senior Investment Manager JUSSI AHONEN. “Besides the obvious reduction of CO2 emissions, this investment will generate local economic activity and contribute to employment generation.”
Currently, IPT already operates 4,500 telecommunication towers according to the TESCO (Telecom Energy Service Company) model. A further 1,000 towers will be added under the project. Installing and maintaining the energy equipment at thousands of telecom towers is labour-intensive and requires mostly skilled workers, thus generating employment opportunities for local communities.
IPT currently employs 4,500 people, with 1,950 further direct and indirect jobs being created or secured as a result of the forthcoming investment.
Finnfund is a Finnish development financier and professional impact investor. We build a sustainable world by investing in responsible and profitable businesses in developing countries. Each year we invest 150–200 million euros in 20-30 projects, emphasising renewable energy, sustainable forestry, sustainable agriculture and financial institutions. Today Finnfund’s investments and commitments total about 800 million euros, half of them in Africa. The company has 83 employees. For more information, please visit www.finnfund.fi