Masdar Partners with Infinity to Build $10B Wind Farm in Egypt
Infinity Power is a Joint Venture between Egyptian firm Infinity and UAE renewables giant Masdar. Recently, they announced a deal to build a 10 GW wind farm requiring an investment of USD 10 billion. Masdar owns 51%, while Infinity owns thee remaining 49%.
A piece of land with an area of more than 3,000 square kilometers the Upper Egypt region of West Suhag has been identified for the project. Currently, land acquisition process and studies are under way. Construction is expected to kick off in 2026 and the Suhag wind farm will start producing green energy in 2032.
“Masdar, its joint venture Infinity Power and our partner Hassan Allam Utilities are supporting Egypt to deliver its ambitious renewable energy targets. I congratulate Egypt’s leadership on this major milestone for the country, with what is set to be one of the largest wind farms on the planet.”
Masdar CEO Jameel al Ramahi
The project has received the green light from the Egyptian authorities who are also fast-tracking it as Egypt is currently experiencing severe power outages du to record high temperatures caused by #ClimateChange.
On a similar note, EBRD providing financing to the tune of nearly USD 80 million another 200 MW wind farm in Ras Ghareb in the Gulf of Suez region. The loan is backed by a sovereign guarantee by the Ministry of Finance of Egypt and a long-term Power Purchase Agreement (#PPA) by the Egyptian Electricity Transmission Company (EETC).
As part of its nationally determined contribution (#NDC) to the #ParisAgreement, Egypt aims to achieve at least 42% of renewables in its energy mix by 2030. The project is also in line with Egypt Nexus Water-Food-Energy (#NWFE) Program.