The European Bank for Reconstruction and Development (EBRD) announced that it has injected an additional US$40 million in equity into Infinity, Egypt’s leading renewable energy developer, increasing its total commitment from US$101.5 million to US$141.5 million.
The newly announced funding, published on their website, will support Infinity Power, Infinity’s subsidiary, in delivering about 3 gigawatts of renewable energy capacity across key African markets.
The EBRD said this continued investment reflects its long-term support for private-sector-led renewable energy growth in Africa and aligns with its focus on promoting sustainable infrastructure and advancing the green transition.
Infinity, a long-time EBRD partner, operates across Africa through Infinity Power, a joint venture between Egypt’s Infinity and Abu Dhabi’s Masdar.
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Infinity Power already manages more than 1.3 gigawatts of operational wind and solar projects in Egypt, South Africa and Senegal, with another 3 gigawatts in its development pipeline.
With its growing footprint, the company aims to provide clean, reliable and affordable energy that supports economic growth, improves access to electricity and moves Africa toward a greener future.
Mohamed Ismail Mansour, Chairman of Infinity Power, said: “This continued support from the EBRD underlines our shared vision of a sustainable, fast-growth future for Egypt and Africa.
Together, we are helping to unlock immense renewable energy potential, delivering projects that create jobs, strengthen energy security and enable long-term economic growth.”
Harry Boyd-Carpenter, Managing Director of the EBRD’s Sustainable Infrastructure Group, added: “We are very pleased to strengthen our partnership with Infinity and support its efforts to deliver large-scale renewable energy projects that will contribute to energy security, decarbonisation and economic development across the continent.
Beyond Egypt, this new investment marks an exciting step in expanding Infinity’s footprint across Africa, where we see tremendous potential to scale up solar and wind generation. Together, we aim to bring clean, reliable and affordable energy to fast-growing economies and to drive the continent’s green transformation.”
The EBRD noted that Egypt is one of its founding members. Since starting operations there in 2012, the Bank has invested more than €13.5 billion in 207 projects.
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Image Credit: The Electricity Hub
