Africa Finance Corporation (AFC)-backed Infinity Power has achieved financial close on its 200MW Ras Ghareb project in Egypt, a milestone that strengthens the continent’s renewable energy landscape and attracts major renewable energy financing.
Boosting Renewable Infrastructure Across Africa
Infinity Power secured US$153 million in senior debt from the European Bank for Reconstruction and Development (EBRD), Proparco, and the Japan International Cooperation Agency (JICA), showcasing strong global investor confidence. Construction began last month in the Gulf of Suez, with POWERCHINA serving as EPC contractor. Once operational in 2027, the wind farm projects Africa will generate 810,000 MWh of clean energy annually—enough to power 300,000 homes and offset 390,000 tonnes of CO₂.
Driving Sustainable Growth and Local Impact
As Africa’s largest renewable power platform, Infinity Power operates 14 wind and solar assets totaling 1.3GW, aiming to reach 10GW by 2030. The company has already brought clean power to 1.2 million homes, invested US$3.5 million in community projects, and supported over 39,000 people. Its progress highlights Africa’s rising commitment to sustainable energy solutions that blend economic impact with environmental responsibility.
Strengthening Africa’s Energy Independence
Sameh Shenouda, AFC’s Executive Board Member, stated: “The Ras Ghareb funding reflects AFC’s role in channeling global capital into transformative renewable energy financing. This project underlines our vision of scaling African-built, bankable platforms capable of driving industrial and social transformation.”
AFC’s recent US$1.5 billion syndicated loan and US$700 million raise for Arise IIP demonstrate Africa’s growing appeal for global infrastructure investment. These projects reinforce AFC’s mission to lead the continent toward sustainable energy solutions and energy security.
Transforming Africa’s Energy Future
Infinity Power Chairman Mohamed Ismail Mansour added, “This achievement reaffirms our goal to expand renewable generation while ensuring long-term sustainability.” Backed by AFC, Masdar, and EBRD, Infinity Power is shaping a future where wind farm projects Africa drive green growth and inclusive prosperity.
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This story was first reported by APO Group on behalf of Africa Finance Corporation. Read the full article here.
