April 25, 2025
Norfund is investing 166 million NOK in the company CREI to provide 2876 mobile towers in Mali with stable solar energy.
Mobile coverage plays a central role in most people’s daily lives and is an important prerequisite for business activities even in some of the world’s least developed countries. To have mobile coverage, one must be near a mobile tower, and mobile towers need power to provide stable mobile coverage.
In countries like Mali, which has been affected by armed conflict for over a decade, mobile coverage cannot be taken for granted. At the same time, it is crucial to get information and communicate with people and services that are not in the same place as you.
“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
CREI already provides power to mobile towers in other vulnerable states like South Sudan and the Central African Republic. However, this will be the company’s largest project to date.
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 backup.
Strengthening telecom infrastructure is an important prerequisite for economic growth and digital inclusion.
“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,” says Kadri El Hakim, CEO at CREI.
“This investment is a milestone in the development of renewable energy solutions in the telecom sector in Mali. It will contribute to cleaner, cheaper, and more reliable power supply,” says Thibault Neveu, co-founder of the FEI fund and CEO of the fund manager Cygnum Capital.