• EBRD funds $74.1M wind farm project at Ras Ghareb, Egypt
• 200 MW project by Infinity Power, Masdar to cut CO₂ emissions
• Part of Egypt’s goal to reach 10 GW renewables by 2028

The European Bank for Reconstruction and Development (EBRD) announced on Thursday, September 18, a $74.1 million financing package for the construction of a 200-megawatt (MW) onshore wind farm at Ras Ghareb in Egypt. The project will be developed by Infinity Power and Masdar.

The total amount includes a $60.7 million senior loan, a $3.38 million concessional loan from the Green Climate Fund, and a $10 million investment grant. The Japan International Cooperation Agency (JICA) and Proparco are also contributing to the financing, with the EBRD acting as the lead coordinator.

Construction is scheduled to begin in the coming weeks. Once operational, the wind farm is expected to prevent approximately 390,000 tonnes of CO₂ emissions annually and will help Egypt meet its national "Nexus of Water, Energy, and Food" (NWFE) initiative's goal of reaching 10 gigawatts (GW) of renewable energy capacity by 2028.

"This project stands as a shining example of what can be achieved when visionary companies join forces with committed international partners. [...] Our gratitude extends to the government of Egypt for its ongoing support and instrumental role throughout," said Harry Boyd-Carpenter, Managing Director of the EBRD's Sustainable Infrastructure Group.

This financing is the latest in a series of recent commitments by the bank in Egypt. In May 2025, the EBRD announced a $30 million loan for Scatec's hybrid Obelisk solar project in Nagaa Hammadi, which combines 1.1 GW of solar power with 200 MWh of storage. A few weeks earlier, it signed a grant agreement with Elica Interconnector to support the Egypt-Greece (GREGY) power interconnection project, which aims to export electricity from Egypt's future solar and wind farms to Europe.

As a founding member of the EBRD, Egypt has received more than €13.5 billion in investments from the bank since 2012 across more than 200 projects. Energy is a central focus of this financing, with a strategy that blends local infrastructure development with regional integration.

Abdoullah Diop