Infinity Power Lands $153M for Egyptian Wind Project
Africa Finance Corporation (AFC), the continent’s premier infrastructure solutions provider, has announced that its portfolio company, Infinity Power, has reached financial close on the 200MW Ras Ghareb Wind Farm in Egypt. The milestone reinforces Africa’s growing capacity to mobilise international capital for large-scale, African-led renewable energy projects.
Infinity Power secured US$153 million in senior debt financing from the European Bank for Reconstruction and Development (EBRD), Proparco of Paris, and the Japan International Cooperation Agency (JICA). Construction of the project, located in the Gulf of Suez, commenced last month under the management of Power Construction Corporation of China (POWERCHINA) as the engineering, procurement, and construction (EPC) contractor.
Once completed in 2027, the wind farm is expected to generate approximately 810,000 MWh annually, powering over 300,000 homes and reducing carbon dioxide emissions by around 390,000 tonnes each year.
Sameh Shenouda, AFC Executive Board Member and Chief Investment Officer, said: “The Ras Ghareb funding highlights AFC’s role as a catalyst for international investment into transformative African infrastructure. Since 2022, we have partnered with Infinity Power, Masdar, and EBRD to create Africa’s largest renewable energy platform, and this project demonstrates the ability of African-built platforms to attract large-scale institutional capital.”
Infinity Power currently operates 14 wind and solar assets with a combined installed capacity of 1.3GW, and the company aims to reach 10GW by 2030. Its operations have provided clean electricity to 1.2 million homes and businesses, while supporting over 39,000 individuals through community development initiatives.
Mohamed Ismail Mansour, Chairman of Infinity Power, added: “Ras Ghareb strengthens our position as Africa’s leading renewable energy company. The backing of AFC, EBRD, and Masdar allows us to scale projects that are both commercially viable and socially impactful, contributing to sustainable growth across the continent.”
This financial close follows AFC’s recent US$700 million capital raise for its investee company, Arise IIP, and a record US$1.5 billion syndicated loan, signalling rising confidence in African infrastructure investment. AFC continues to expand its renewable energy portfolio across Egypt, South Africa, Côte d’Ivoire, and Senegal, supporting Africa’s transition to a low-carbon, energy-secure future.
