Founded in 1994 as a power systems supplier in Lebanon, IPT has grown into a globally diversified group. Thanks to a successful diversification strategy, it has expanded its operations into other business sectors, becoming one of the world’s largest T-ESCO, managing over 10,000 sites. The group operates through three key business lines:

-          TESCO - IPT provides energy as a service to mobile network operators (“MNOs”) or independent tower companies through long-term contracts.

-          Telecom Services - IPT provides turnkey telecom solutions including site build and maintenance, managed services, and fiber optic network deployment.

-          Power - IPT offers a wide range of highly customizable energy-efficient power solutions including battery systems, power protection and distribution systems, renewable energy solutions, generators.

The Group is owned by three businessmen, Ahmed Nabil Haddad, Mohamad Khaled El Haffar El Habbal and Assem Nawam.

Through the Project, IPT aims at increasing its diversification by expanding its T-ESCO portfolio in Ethiopia, Sierra Leone and Liberia, offering MNOs solutions to bridge the gaps in electricity infrastructure in fragile countries.       

The total Project cost is estimated to be $87 million comprising of (i) up to US$27 million A Loan from IFC, (ii) up to US$ 10.5 million Canada-IFC BCFP loan, (iii) up to US$ 7.5 million IDA PSW loan and the remainder will be funded through additional debt and internal cash generation. The Project is expected to be supported by Canada-IFC BCFP and IDA PSW as described in the Blended Finance Section.

Funds will be used to support IPT’s T-ESCO expansion into Ethiopia, Sierra Leone and Liberia.            

Not Applicable

This is a Category B project as per IFC’s Policy on Environmental and Social Sustainability. Based on IFC’s review, the project is expected to have limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through established mitigation measures.

Given IFC’s existing knowledge of the sector, and contextual risks associated with the countries of operation, key E&S risks and impacts include: (i) the suitability and ongoing implementation of the company’s E&S Management System (ESMS) to manage the risks associated with the proposed expansion activities at an operating company (OpCo) level; (ii) implementation of fair and safe labor and working conditions for direct and contract workers; in line with relevant local statutory requirements and Performance Standard (PS) 2; (iii) adequate monitoring and management of third-party service providers, in particular risks associated with occupational health and safety (OHS), (iv) management of potential risks associated with the company’s primary supply chain, and (v) implementation of adequate security management risk assessments, protocols and procedures.