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EIB to Support Transformation of Telecom in Guinea

Infrastructure News - Published on Wed, 13 Nov 2019

Image Source: mapsland
The European Investment Bank has confirmed its support to transformational telecom investment across Guinea. A new USD 30 million long-term loan with IPT Powertech Guinea represents the first ever support for an energy services company in Africa by Europe’s long-term lending institution and the first EIB investment to reduce use of diesel generators by energy-efficient sources for telecom infrastructure. The 8 year-loan that will enable renewable energy and battery power and reduce diesel consumption for Orange Guinée towers across Guinea.was formally agreed at the Africa Investment Forum in Johannesburg by Ambroise Fayolle, Vice President of the European Investment Bank and Mohamad Khalad Al Haffar Al Habbal, Vice President and Chief Operating Officer of IPT Powertech Group.

The new project will ensure more reliable energy supply for 1,500 Orange Telecom towers across Guinea. At present mobile phone services can be unavailable for 4 hours a day due to power shortages.

New investment by IPT Powertech, backed by the EIB, will also support construction of 250 new energy efficient mobile communications towers that will enable telecom coverage to be provided for the first time to remote rural regions.

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Posted By : TelecomGuru on Wed, 13 Nov 2019
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