The EBRD has approved $74.1 million to develop a 200 MW wind farm in Ras Ghareb, reinforcing Egypt’s renewable energy ambitions. Infinity Power and Masdar will lead the project, supported by an EBRD senior loan of up to $60.7 million, a $3.38 million concessional loan from the Green Climate Fund (GCF), and a $10 million grant. Construction is expected to begin soon.
Once operational, the wind farm will reduce annual CO₂ emissions by about 390,000 tonnes and contribute to Egypt’s target of installing 10 GW of renewable capacity by 2028 under the NWFE program. The EBRD, as a central driver of the initiative, will also launch a certified internship program for young engineers in Ras Ghareb, with a strong focus on empowering women in the energy sector.
Harry Boyd-Carpenter, Managing Director of the EBRD’s Sustainable Infrastructure Group, said the project demonstrates the impact of partnerships between innovative companies and committed financiers, highlighting collaboration with JICA, Proparco, and the GCF. Infinity Power Chairman Mohamed Ismail Mansour praised the cooperation of international partners and Egyptian authorities, calling it essential to both Egypt’s clean energy agenda and Africa’s wider energy transition.
Infinity Power, a joint venture between Infinity and Masdar, already operates 1.3 GW of renewable capacity in Egypt, Senegal, and South Africa, with 16 GW in development and a goal of 10 GW across Africa by 2030. Since 2012, Egypt has attracted over €13.5 billion in EBRD funding across 206 projects, while its new Narrative for Economic Development puts the green transition at the heart of its growth strategy through 2030.
source:renewablesnow.com
African Energy Council