The European Bank for Reconstruction and Development (EBRD) has committed an additional USD40 million in equity investment to Egypt’s Infinity to support its subsidiary, Infinity Power, in developing approximately 3 GW of solar and wind projects across Africa.
This brings EBRD’s total equity commitment to Infinity to USD141.5 million. Infinity Power, a joint venture between Infinity and UAE-based Masdar, currently operates over 1.3 GW of renewable capacity in Egypt, South Africa, and Senegal, and is expanding its footprint with a 3 GW development pipeline. The funding follows the recent USD153 million financial close for the 200 MW Ras Ghareb wind farm in Egypt.