- EBRD invests an additional US$ 40 million in Infinity, increasing its total commitment to US$ 141.5 million
- Funding will support development of 3 GW of renewable energy projects across Africa through Infinity’s subsidiary, Infinity Power
- Investment strengthens Infinity Power’s position as Africa’s leading renewable energy company
The European Bank for Reconstruction and Development (EBRD) has announced an additional equity investment of US$ 40 million in longstanding client Infinity, Egypt’s leading developer of renewable energy. This brings the Bank’s total equity commitment to US$ 141.5 million, up from US$ 101.5 million. The new capital will support Infinity Power, Infinity’s subsidiary, in delivering approximately 3 gigawatts (GW) of renewable energy capacity across key African markets.
This follow-on investment reflects the EBRD’s continued support for private sector-led renewable energy development in Africa and aligns with its strategic priorities of promoting green transition and sustainable infrastructure.
An EBRD client for many years, Infinity is Egypt’s leading renewable energy developer, operating across Africa through its subsidiary Infinity Power.
Infinity Power, a joint venture between Egypt’s Infinity and Abu Dhabi’s Masdar, has a portfolio of more than 1.3 GW of operational solar and wind projects across Egypt, South Africa and Senegal, and a near-term development pipeline of around 3 GW. Through its expanding footprint, Infinity Power continues to provide clean, reliable and affordable energy that drives growth, enhances energy access and advances the African continent’s green transition.
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, commented: '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.'
Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the EBRD has invested more than €13.5 billion in 207 projects in Egypt.
Source: EBRD
