Customer
Communication and Renewable Energy Infrastructure CREI Phils. Inc is a project company established with the purpose of constructing and operating 618 telecom towers in the Philippines.
The company is a wholly-owned subsidiary of global telecom services group Two Thirty Three Holdings SAL.
Funding Objective
DEG’s senior loan supports the company’s entry into the Philippine market. The DEG funds are used to build and operate 618 telecom towers in the country.
Reasons for financing
The project is strongly contributing to the market and sector development by introducing telecom infrastructure sharing in the Philippines. The low number of telecom towers per capita is a bottleneck for providing modern wireless connectivity in the country.
In addition, the project will make a significant contribution to climate protection by reducing CO2 emissions from tower energy assets through deployment of battery solutions.
By providing long-term financing, DEG supports a new market entry in a developing country and fosters private sector competition.
The investment contributes to DEG’s strategy of improving digital infrastructure in developing countries.
Sustainable Development Goals (SDGs) the transaction contributes to: SDG 9 – Industry, Innovation and Infrastructure and SDG 13 – Climate Action.
- Region Asia
- Country Philippines
- Sectors Infrastructure
- Signing Date 07-2022
- Funding USD 19,40 Million
- Investment Instrument Debt
- Source of Funding DEG's own funds
Environmental & Social Category
- B+/B+
- Domiciliation Philippines
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