Region and country of operations: Lebanon and Guinea
Jurisdiction of registration: Lebanon
Business sector: Telecom energy services and solutions
Date of agreement (month/year): 10/2019
Finnfund’s financing: USD 10,000,000
Share of Finnfund’s financing: 9%
Size of project/financing: USD 115,000,000
Environmental and social category: B+
The project consists of the modernisation of the energy supply infrastructure in (T-ESCO-contracts) Lebanon and Guinea. 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.
Main development impact
The investment significantly reduces the diesel consumption, and the associated maintenance costs and CO2 emissions, improves quality of network service and generates new high-skilled employment opportunities for local work forces in fragile countries.