The European Bank for Reconstruction and Development (EBRD) has approved a new $74.1 million financing package to support the development of a 200-megawatt (MW) wind farm in Ras Ghareb, further boosting Egypt's renewable energy drive, the bank announced on Thursday 18/9/2025.
The project, jointly owned by Infinity Power and Masdar, includes an EBRD senior loan of up to $60.7 million, a concessional loan of $3.38 million from the Green Climate Fund (GCF), and an investment grant worth $10 million. Construction is set to begin in the coming weeks.
Once operational, the wind farm is expected to reduce Egypt's annual CO₂ emissions by approximately 390,000 tonnes and make a significant contribution to the government's target of installing 10 GW of renewable energy capacity by 2028 under its Nexus on Water, Food, and Energy (NWFE) programme.
The EBRD is the main catalyst of energy projects under the NWFE programme.
Keep up with the latest headlines on WhatsApp | LinkedIn
The project will also launch a certified internship programme for young engineers in the region, with a focus on empowering women to participate in Egypt's growing clean energy sector.
Harry Boyd-Carpenter, Managing Director of the EBRD's Sustainable Infrastructure Group, said the project exemplifies "what can be achieved when visionary companies join forces with committed international partners," highlighting cooperation with JICA, Proparco and the GCF.
Mohamed Ismail Mansour, co-founder and Chairman of Infinity Power, praised the role of the EBRD, GCF, JICA, Proparco, and Egyptian authorities in bringing the project forward.
He noted that such partnerships are "vital not only to delivering Egypt's clean energy ambitions but also to accelerating the wider transition towards a sustainable future across Africa."
Infinity Power, a joint venture between Infinity and Masdar, is Africa's largest renewable energy provider, operating 1.3 GW of wind and solar capacity across Egypt, Senegal, and South Africa, with a pipeline of 16 GW under development. It aims to reach 10 GW of installed capacity across the continent by 2030.
Egypt, a founding member of the EBRD, has received over €13.5 billion in investment across 206 projects since 2012, spanning renewable energy, transport, financial services, and infrastructure.
A gradual green transition is a cornerstone of Egypt's newly launched Narrative for Economic Development, which charts a path for the national economy through 2030.
