Trinity closes ESCOTEL transactionPublished:
Trinity International is pleased to announce it has advised Inspired Evolution, through its Evolution II Fund, on its investment into the energy services company ESCOTEL, alongside co-investors Norfund and Sagemcom.
Recently incorporated in Mauritius, ESCOTEL has been set up to provide energy services to mobile tower owners and operators, owning and operating off-grid renewable energy infrastructure across Africa. ESCOTEL will supply, install, operate and maintain off-grid hybrid power systems for a portfolio of around 900 Orange telecom sites in the Democratic Republic of Congo, Sierra Leone, and Liberia. Trinity also advised on the MIGA guarantees covering the investments.
Evolution II has committed US$20 million alongside US$10 million from Norfund and US$5 million from Sagemcom Energy & Telecom, which will also act as equipment supplier, EPC contractor and O&M provider to ESCOTEL.
The Trinity team advising Evolution II Fund was made up of Head of Private Equity Hugh Naylor and Partners Luke Muchamore, Pierre Bernheim and Marianna Sédéfian.