Mirova Backs iSAT Africa with $15M to Deploy Off-Grid Solar Towers Across Africa

Impact investment firm Mirova has committed a $15 million senior secured loan to telecommunications company iSAT Africa to support the rollout of solar-powered telecommunications towers across Africa, starting with projects in Liberia and Zambia.

Structured as a 10-year facility, the financing will fund the rollout of scalable network-as-a-service and energy-as-a-service solutions. The project forms part of iSAT’s broader strategy to deploy approximately 1,000 telecom towers across sub-Saharan Africa.

“This partnership validates our integrated model combining telecom infrastructure, renewable energy and innovative services for scalable connectivity in underserved markets,” iSAT Africa CEO Rakesh Kukreja said in a statement. “By deploying solar-powered telecom infrastructure, we are building a resilient platform that expands coverage, reduces carbon emissions and accelerates inclusive digital and economic growth across rural communities.”

The towers financed through the Mirova Gigaton Fund will operate entirely off grid, powered by solar energy and battery storage. The design replaces diesel generators commonly used in remote telecom infrastructure across the continent.

“This investment reflects Mirova’s ambition to accelerate the clean energy transition in hard-to-abate sectors, while delivering tangible benefits. By supporting iSAT’s solar-powered tower deployments, we are helping reduce emissions from telecom infrastructure ad enable digital inclusion in remote rural areas,” stated Investment Director for Mirova Kenya John Kimotho.

iSAT’s platform integrated a multi-orbit satellite backhaul architecture using geostationary, medium and low Earth orbit constellations, enabling reliable connectivity in areas with fiber or microwave links are difficult to deploy.

The infrastructure supports 2G, 4G and 5G services, enabling both new coverage expansion and upgrades to existing networks. By targeting rural connectivity gaps, the deployment aims to improve mobile speeds and extend digital access to underserved populations.

Beyond tower infrastructure, iSAT Africa has also developed complementary connectivity solutions across the continent, including telehealth platforms, maritime communications services and solar-powered community kiosks with Wi-Fi and device charging capabilities.

Meanwhile, the Mirova Gigaton Fund focuses on financing clean energy and climate infrastructure in emerging markets. With a target size of $500 million, the fund invests in areas such as telecom solarization, e-mobility, solar irrigation and mini-grids.

Through investments like the iSAT Africa project, the fund aims to expand access to clean energy while supporting economic development and lowering carbon emissions in underserved regions.