The development of renewable energy in Egypt takes a new step with the start of a 200 MW wind project in Ras Ghareb, financed by the European Bank for Reconstruction and Development (EBRD). This is the first greenfield wind farm of Infinity Power, a company that leads clean generation in Africa together with Masdar.
Construction of the wind farm with support from EBRD
The EBRD approved a $74.1 million financial package to support the construction of the park, including a $60.7 million senior loan, a $3.38 million soft loan from the Green Climate Fund (GCF), and an investment grant of up to $10 million. This support is part of the NWFE (Water, Food and Energy Nexus) program, an Egyptian government initiative that aims to reach 10 GW of renewable capacity by 2028.
The project is jointly promoted by Infinity Power and Masdar, with the coordination of multilateral resources from JICA, Proparco and the GCF itself. The EBRDEgypt’s main green infrastructure partner, EBRD, is playing a central role in coordinating technical and financial cooperation. The work will begin in the coming weeks and represents a concrete step towards a cleaner energy matrix.
Once operational, the wind farm will avoid the annual emission of some 390,000 tons of CO₂ and will supply clean electricity to more than 300,000 households. The project also provides for a training program for young Egyptian engineers with an emphasis on female participation in the energy sector, thus reinforcing the social dimension of the energy transition.
Infinity Power already manages an operational portfolio of 1.3 GW in Egypt, Senegal and South Africa, and maintains an ambitious expansion plan with the goal of reaching 10 GW of renewable capacity in Africa by 2030. The company stresses that Ras Ghareb represents a model of effective cooperation and strategic vision for a region seeking to accelerate its decarbonization.
With the Ras Ghareb wind farm, Egypt consolidates its leadership in clean energy on the continent. The multilateral backing received by Infinity Power and Masdar marks a replicable roadmap for future developments, adding installed capacity, emission reductions and skilled labor opportunities in a single project.
Source and photo: Infinity Power