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In March 2023, OeEB provided USD 15 million as part of a USD 65 million loan facility arranged by Mirova SunFunder ("MSF") to Mauritius-based Energy Vision Ltd. The funds will be used to finance the procurement, construction, and operation of hybrid energy solutions for telecommunications infrastructure in Gabon and Nigeria, as well as in other countries, particularly in Sub-Saharan Africa. OeEB participated in the loan facility alongside MSF and FMO, each providing USD 25 million.
| Project name | Energy Vision LTD |
| Region | Sub-Saharan Africa |
| Sector | Energy / Resource efficiency / Infrastructure |
| Service | Investment Finance |
| OeEB project volume | USD 15 Million |
| International climate finance according to UNFCCC | Yes |
| Additionality | Financial additionality |
| Projekt partner(s) | Mirova SunFunder (“MSF”), FMO |
Energy Vision ("EV") is a telecom-focused Energy Service Company ("ESCO"), providing power solutions to cell towers of mobile network operators and tower management companies in places where the electric grid is either non-existent or only partial and unreliable. EV use energy-efficient battery technologies as well as renewable energy systems, including solar energy, which reduces diesel consumption and associated CO2 emissions by up to 70%. By replacing outdated energy systems at existing cell towers and installing new and more efficient hybrid energy solutions, EV aim to save up to 30 million litres of diesel and 80,000 tonnes of CO2 annually by 2025. The company is currently operating in Gabon and Nigeria and plans to expand to other African countries.
The loan arranged by MSF will allow Energy Vision to expand its operations, thereby scaling up hybrid and renewable energy solutions for the telecom infrastructure in Sub-Saharan Africa and promoting climate protection. Ensuring reliable telecommunication networks will further contribute to economic development in the individual countries and support both direct and indirect job creation.