Finnish development financier and professional impact investor Finnfund said it is investing USD 10 million in IPT PowerTech Group to make telecommunications in Lebanon and Guinea more reliable and energy-efficient. Co-investors are DEG, Proparco and the European Investment Bank.
IPT will modernise the energy supply infrastructure in Lebanon and Guinea using solar panels and storage media to save up to 40 percent of energy and reduce diesel consumption. 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. Towers areas without access to reliable electricity grids have to be powered by diesel generators, with high operating costs and large environmental impact.
Currently, IPT operates 4,500 telecommunication towers according to the TESCO (Telecom Energy Service Company) model. Another 1,000 towers will be added under the project. Installing and maintaining the energy equipment at thousands of 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 more direct and indirect jobs being created or secured as a result of the forthcoming investment.
