The release revealed that DEG- Deutsche Investitions- und Entwicklungsgesellschaft mbH, a German development finance is going to finance part of the projects with a US$25 million long term loan.
IPT also secured US$20 million and US$10 Million from EDFI member institutions, Proparco and Finnfund which will be syndicated by DEG.
According to IPT, mobile telecommunication is part and parcel of everyday life.
It will for instance install batteries on site which will store excess power so that green energy is available and can be used at any time of the day.
IPT looks forward to saving 40% of the total energy currently being used to power telecommunication masts while at the same time reducing the amount of CO2 emissions by about 115,000 tons per year.
To achieve this goal, IPT plans to take over a large part of the energy systems from the mobile network operators, modernize them and sell the electricity back to the mobile network operators on the basis of long-term supply agreements.
Currently, IPT operates 4,500 telecommunication towers according to the TESCO (Telecom Energy Service Company) model and has plans to use the funding from European partners to add a further 1,000 towers.
The firm currently employs 4,500 people, with 2,000 further direct and indirect jobs being created or secured as a result of the forthcoming investment.