EBRD tops up Egypt’s clean energy drive with $40m

From the newsletter

The European Bank for Reconstruction and Development (EBRD) has provided an additional $40 million in equity to Infinity Power, an Egyptian renewable energy developer, increasing its total commitment to $141.5 million. This funding supports Infinity's subsidiary in developing 3 GW of solar and wind energy projects across Africa.

• Since entering Egypt in 2012, the EBRD has channelled more than $16 billion into over 200 projects, making it the bank’s most active market in Africa.

• Just last month, together with the Green Climate Fund, Proparco, and JICA, the Bank provided $74.1 million for a 200 MW wind farm in Ras Ghareb developed by Infinity Power.

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