The European Bank for Reconstruction and Development (EBRD) has approved a financing package worth US$ 74.1 million to support the development of a 200 MW wind farm in Ras Ghareb, Egypt. The project, jointly owned by Infinity Power and Masdar, will receive an EBRD senior loan of up to US$ 60.7 million, a concessional loan of up to US$ 3.38 million from the Green Climate Fund (GCF), and an investment grant of up to US$ 10 million. This initiative underscores the EBRD’s role as a key development partner for Egypt’s Nexus on Water, Food and Energy (NWFE) programme.
The Ras Ghareb wind farm will be co-financed by the GCF, Japan International Cooperation Agency (JICA), and Proparco, reflecting a strong international partnership. Construction is set to begin shortly, and once completed, the wind farm will contribute significantly to Egypt’s renewable energy targets, including the goal of reaching 10 GW of renewable energy capacity by 2028. The project is expected to cut annual carbon emissions by 390,000 tonnes while also creating opportunities for skills development and employment through an internship programme for young engineers, with a focus on empowering women in the energy sector.
Infinity Power, a joint venture between Infinity and Masdar, is Africa’s largest renewable energy provider and already operates 1.3 GW of wind and solar projects across Egypt, Senegal, and South Africa. With a pipeline of 16 GW in development, the company aims to expand to 10 GW of operational clean power capacity by 2030. The Ras Ghareb wind farm marks another step in its ambitious growth strategy while strengthening Egypt’s clean energy transition.
EBRD officials emphasized that the project highlights the importance of global collaboration in advancing renewable energy and sustainability. Egyptian officials and Infinity Power leadership also credited the partnership between international financiers and national institutions, such as the Egyptian Electricity Transmission Company and the Ministry of Finance, as critical to the project’s success.
Since launching operations in Egypt in 2012, the EBRD has invested over €13.5 billion across 206 projects. Its investments span multiple sectors, including finance, agribusiness, manufacturing, sustainable infrastructure, and transport, with renewable energy projects like Ras Ghareb forming a central part of its commitment to supporting Egypt’s sustainable growth.
