The European Bank for Reconstruction and Development (EBRD) has committed $74.1 million in financing to support the development of a 200-megawatt wind power project in Ras Ghareb, Egypt, in partnership with regional and international institutions.
The project, a collaboration between Infinity Power and Masdar, marks Infinity Power’s first greenfield wind development in Egypt. It forms part of Egypt’s broader Nexus of Water, Food and Energy initiative, which aims to integrate sustainable infrastructure development across critical sectors. Construction is expected to begin in the coming weeks.
The financing package includes a $60.7 million loan from the EBRD, $3.38 million from the Green Climate Fund (GCF), and a $10 million grant. Additional support is being provided by Proparco, the French development finance institution, and the Japan International Cooperation Agency (JICA).
Once operational, the wind farm is projected to reduce Egypt’s carbon dioxide emissions by approximately 390,000 tonnes annually and deliver renewable electricity to over 300,000 households. The initiative also includes a certified internship programme aimed at training young engineers, with a particular focus on increasing female participation in the energy sector.
“Infinity Power’s Ras Ghareb project is a clear demonstration of our commitment to turning plans into reality,” said CEO Nayer Fouad. “Each project we deliver takes us closer to our goal of 10GW of renewable capacity by 2030.”
Chairman Mohamed Ismail Mansour welcomed the international backing, stating that support from the EBRD, GCF, JICA and Proparco was “instrumental in bringing the Ras Ghareb project to this stage.”
EBRD Managing Director for Climate Strategy and Delivery, Harry Boyd-Carpenter, described the project as a “shining example of what can be achieved when visionary companies join forces with committed international partners.”
The Ras Ghareb wind farm adds to Egypt’s growing renewable energy portfolio as the country seeks to diversify its power mix and meet long-term climate targets.
