• The European Bank for Reconstruction and Development (EBRD) increased its equity investment in Egypt’s Infinity Power by $40 million, bringing its total commitment to $141.5 million.
• The funds will support new solar and wind projects across Africa, strengthening Infinity Power’s regional presence.
• Infinity Power recently secured major renewable deals in Egypt, South Africa, and Sierra Leone, with 1.3 GW in operation and a 3 GW development pipeline.

The European Bank for Reconstruction and Development (EBRD) has injected an additional $40 million in equity into Infinity Power, bolstering its support for renewable energy expansion across Africa amid the continent’s persistent energy deficit.

The new financing raises the EBRD’s total commitment in Infinity to $141.5 million, up from $101.5 million previously. The bank said the investment will enable Infinity Power—a joint venture between Egypt’s Infinity and the UAE’s Masdar—to deploy new solar and wind capacities in multiple African markets.

“This renewed support from the EBRD underlines our shared vision for a sustainable, high-growth future for Egypt and Africa,” said Mohamed Ismail Mansour, Chairman of Infinity Power.

Harry Boyd-Carpenter, EBRD Managing Director for Sustainable Infrastructure, described the deal as “an exciting step in Infinity’s expansion across Africa, where they see enormous potential for solar and wind generation.”

Earlier in November, Infinity signed agreements with Hassan Allam Utilities and the Egyptian government to develop 1,200 MW of solar projects with storage, less than three months after reaching financial close on a 200 MW wind project in Ras Ghareb.

In December 2024, the company won 1,280 MW of solar projects under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The same year, Infinity signed a memorandum of understanding with the government of Sierra Leone to develop 1 GW of renewable projects by 2033.

These milestones consolidate Infinity Power’s position as one of Africa’s leading renewable developers, with more than 1.3 GW of operational solar and wind assets and around 3 GW in development.

The EBRD, a long-term partner in Egypt’s energy transition, has invested over €13.5 billion ($15.6 billion) in 207 projects in the country since 2012, including significant support for the renewable energy sector.

This article was initially published in French by Abdoullah Diop

Adapted in English by Ange Jason Quenum