Deal Summary
In June 2024, the Facility for Energy Inclusion (FEI), managed by Cygnum Capital, and Finnish development financier and impact investor Finnfund, and Communication & Renewable Energy Infrastructure (CREI), the asset management company of ieng Group, signed a $20 million facility to finance CREI’s Telecom Energy Service Company (TESCO) in South Sudan. The funding, which includes a $15 million bridge facility contributed by FEI and CREI (with CREI's specific funding amount undisclosed) and a $5 million mezzanine loan from Finnfund, will support the installation, operation, and maintenance of 413 hybrid power solutions for telecom sites in South Sudan. Established in 2007, ieng Group is a leading provider of Engineering, Procurement, Construction (EPC) and Operations and Maintenance (O&M) infrastructure services across the telecom and power industries. The Group operates in 19 countries, with subsidiaries like Eki.Struct (telecom towers) and GreenPole (power), complemented by its affiliated asset management company, CREI. FEI, set up
