Infinity Power, a joint venture co-owned by Egypt’s Infinity and Abu Dhabi-based Masdar, has entered into a significant Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for the development of a 200-MW wind project in the Gulf of Suez, Egypt. The planned wind farm, situated in Ras Ghareb, is expected to generate 810,000 MWh annually, marking a considerable contribution to Egypt’s renewable energy landscape. This project aligns with Infinity Power’s ambitious goal to achieve 10 GW of renewable energy capacity by 2030, underscoring their commitment to sustainable energy solutions.
This massive project comes with an estimated cost of USD 214.8 million. A noteworthy aspect of the funding is that up to USD 64.7 million might be provided by the European Bank for Reconstruction and Development (EBRD), pending approval. This financial support underscores the international interest and collaboration involved in expanding Egypt’s renewable energy capabilities. The new wind farm in Ras Ghareb is not only a cornerstone for Infinity Power’s future projects but also a crucial step in supporting Egypt’s national renewable energy objectives. By contributing to the nation’s ambitious target of attaining 45 GW of renewable energy, this project represents a strategic investment in the future of sustainable energy for Egypt.
Renewables and International Collaboration
Infinity Power, a collaboration between Egypt’s Infinity and Abu Dhabi’s Masdar, has signed a major Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) to develop a 200-MW wind project in the Gulf of Suez. Located in Ras Ghareb, this wind farm is set to produce 810,000 MWh annually, significantly boosting Egypt’s renewable energy framework. This initiative is a key part of Infinity Power’s larger aim to achieve 10 GW of renewable energy capacity by 2030, reflecting their commitment to green energy solutions.
The project carries an estimated cost of $214.8 million. Notably, up to $64.7 million might come from the European Bank for Reconstruction and Development (EBRD), pending approval. This international funding highlights the global interest in Egypt’s renewable energy expansion. The Ras Ghareb wind farm stands as a cornerstone for future projects by Infinity Power and is vital for meeting Egypt’s national renewable energy targets. By contributing to Egypt’s ambitious goal of reaching 45 GW of renewable energy, this project is a significant investment in the country’s sustainable energy future.
