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EBRD injects $40mn into Infinity Power to accelerate African expansion

The European Bank for Reconstruction and Development strengthens its commitment to renewables in Africa by supporting Infinity Power’s solar and wind expansion beyond Egypt.

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The European Bank for Reconstruction and Development (EBRD) has announced a new $40mn equity investment in Infinity Power, raising its total commitment to $141.5mn. The funding aims to support the developer’s solar and wind expansion across multiple African markets amid growing electricity deficits across the continent.

Infinity Power is a joint venture between Egypt’s Infinity and the United Arab Emirates’ Masdar, a state-owned company focused on low-carbon projects. The EBRD’s investment is part of a broader strategy to support sustainable infrastructure in a region where electricity demand is rising faster than supply.

A rapidly growing project pipeline

Infinity Power recently signed an agreement with Hassan Allam Utilities and the Egyptian government to develop 1,200 megawatts (MW) of solar projects with storage. The announcement follows the financial close of its 200 MW wind project in Ras Ghareb. These developments are part of a wider strategic expansion across the continent, including projects in South Africa and Sierra Leone.

In December 2024, the company secured 1,280 MW of solar projects under South Africa’s seventh Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). That same year, it signed a memorandum of understanding with the government of Sierra Leone to develop 1,000 MW of renewable energy projects by 2033.

Continued financial backing from the EBRD

Since 2012, the EBRD has invested over €13.5bn ($15.6bn) in 207 projects in Egypt, including several in the energy sector. The renewed support for Infinity Power reflects a strategy to expand decarbonised electricity generation in Africa while backing developers capable of managing cross-border portfolios.

Infinity Power currently operates more than 1.3 gigawatts (GW) of solar and wind capacity and holds a development pipeline of around 3 GW. The capital from the EBRD is expected to accelerate the execution of ongoing projects while ensuring continued expansion in sub-Saharan markets.

Mohamed Ismail Mansour, Chairman of Infinity Power, welcomed the new funding round as validation of the firm’s strategy, stating that Africa remains a priority growth zone.

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