The European Bank for Reconstruction and Development (EBRD) has announced a significant additional equity investment of US $40 million in its long-standing client, Infinity, a prominent renewable energy developer based in Egypt. This substantial funding injection elevates the Bank’s total equity commitment to Infinity from US $101.5 million to an impressive US $141.5 million. The primary objective of this increased capital is to catalyze the efforts of Infinity Power, Infinity’s subsidiary, in achieving a near-term development pipeline of approximately 3 gigawatts (GW) of vital renewable energy capacity across key markets in Africa.
Infinity Power’s Role and the Strategic Impact of the Funding
This follow-on investment underscores the EBRD’s enduring strategy of promoting a green transition and supporting the development of sustainable infrastructure driven by the private sector across Africa. Infinity Power, which operates as a joint venture between Egypt’s Infinity and Abu Dhabi’s Masdar, stands as a key player in the continent’s clean energy landscape. It currently manages a robust portfolio of over 1.3 GW of operational solar and wind energy projects spanning Egypt, South Africa, and Senegal. The new capital will be crucial for the development and deployment of its ambitious 3 GW pipeline, solidifying Infinity Power’s position as a leading renewable energy company in Africa.
Stakeholder Endorsements and Commitment to African Growth
Leaders from both the EBRD and Infinity highlighted the strategic importance of this strengthened partnership. Mohamed Ismail Mansour, Chairman of Infinity Power, emphasized that the continued support from the EBRD “underlines our shared vision of a sustainable, fast-growth future for Egypt and Africa.” He noted that the joint effort will unlock “immense renewable energy potential,” leading to projects that create jobs, strengthen energy security, and enable long-term economic growth.
Adding to this, Harry Boyd-Carpenter, Managing Director of the EBRD’s Sustainable Infrastructure Group, stated that the investment is an “exciting step in expanding Infinity’s footprint across Africa.” He reiterated the Bank’s commitment to supporting large-scale renewable energy projects that contribute to decarbonisation and economic development across the continent, bringing “clean, reliable and affordable energy to fast-growing economies.”
EBRD’s Deep History with Egypt
This investment further highlights the deep relationship between the EBRD and Egypt, one of the Bank’s founding members. Since commencing operations in Egypt in 2012, the EBRD has made significant contributions, investing more than €13.5 billion across 207 projects. This latest funding round with Infinity is a testament to the EBRD’s ongoing commitment to fostering sustainable development and green energy leadership within Egypt and subsequently, throughout the African continent.
