• Mirova to invest $15 million in iSAT solar telecom towers

• Funding supports rural tower rollout in Liberia and Zambia

• Solar-battery towers aim replace diesel, expand connectivity across Africa 

Mirova, the asset management firm and subsidiary of Natixis Investment Managers, said on Thursday it would provide $15 million in financing to iSAT Africa Mauritius Limited to support the deployment of solar-powered telecom towers in sub-Saharan Africa.

The Paris-based firm announced the investment in a statement on its website on March 12. The facility takes the form of a 10-year guaranteed senior debt instrument and is intended to fund connectivity infrastructure in rural areas of Liberia and Zambia.

The transaction supports the expansion of iSAT’s rural connectivity platform, which plans to develop around 1,000 telecom towers across the region. The towers will operate off-grid, powered by systems that combine solar energy and battery storage, replacing diesel generators commonly used to power remote telecom sites.

“By supporting iSAT’s solar-powered tower deployments, we are helping reduce emissions from telecom infrastructure and enable digital inclusion in remote rural areas,” said John Kimotho, Chief Investment Officer at Mirova Kenya.

Growing support for energy infrastructure in Africa

The investment comes as Mirova expands financing for energy transition projects across emerging markets. In May 2025, the firm finalized a $10 million senior loan to renewable energy provider EDF Renouvelables to develop off-grid electricity solutions, including in Côte d’Ivoire. In January 2026, it invested $19 million in sustainable cold chain infrastructure in Kenya.

Across much of Africa, telecommunications towers remain heavily dependent on diesel power. According to a July 2025 analysis by CrossBoundary Energy, nearly 70% of the continent’s 500,000 telecom towers still run on diesel, which can account for up to 60% of operating costs in some remote areas.

Fuel price volatility and logistical constraints in diesel supply are pushing operators to explore solar and battery storage solutions to secure reliable power for telecom infrastructure while reducing costs and emissions.

Abdoullah Diop