Infinity Power, Egypt-headquartered Africa-focused renewable energy company, is preparing to close a new 1,200 megawatt (MW) solar power project, incorporating battery storage close on the heels of achieving financial close for its 200 MW onshore wind farm in Ras Ghareb in the Gulf of Suez.
“The new solar plus battery storage project is estimated to require an investment of $1 billion,” Hisham Elgamal, GM of Infinity Power said. “Of the total capacity, 200 MW will be developed in Benban in Aswan governorate, while 1,000 MW will be established in Minya Governorate.
In November 2024, a consortium of Masdar, Infinity Power and Hassan Allam Utilities had signed two Power Purchase Agreements (PPAs) for the construction of solar projects with a combined capacity of 1.2GW and 720 MWh (megawatt hours) Battery Energy Storage Systems (BESS).
Infinity already operates solar energy projects in Egypt, most notably four stations with a combined capacity of more than 250 MW within the world’s fourth largest solar energy complex in Benban.
“We are proud to be at the forefront of Egypt’s renewable energy transformation,” said Elgamal. “Our new projects represent a significant step toward achieving the country’s green energy targets and positioning Egypt as a regional hub for clean energy.”
For the Ras Ghareb wind farm, the total financing raised, according to DLA Piper, which advised Infinity Power Holding on the transaction, is $164 million. The EBRD provided a financing package of $74.1 million comprising a senior loan of up to $60.7 million, a concessional loan of up to $ 3.38 million from the Green Climate Fund (GCF), and an investment grant of up to $ 10 million. Participating lenders also include Japan International Cooperation Agency (JICA) and Société de Promotion et de Participation Pour la Coopération Economique (Proparco). The total project cost, according to EBRD, is $216.74 million.
Infinity Power is also expanding its wind energy portfolio with a 300 MW project under planning in Hurghada, and 1000 MW wind plant in Ras Shokier in Egypt.
At Infinity Power, we are not just investing in energy projects — we are investing in Egypt’s and Africa’s future,” Elgamal said.
On the other hand Infinity EV is making strides in electric vehicle infrastructure ,the first and largest company in Egypt’s EV charging sector. To date, Infinity EV has built more than 240 charging stations across the country and aims to reach 300 by the end of the year.
“We are building the backbone of Egypt’s electric vehicle ecosystem,” Elgamal said. “Our charging network spans highways, fuel stations, and residential communities, ensuring EV drivers have seamless access to reliable charging. This is a key part of our mission to promote cleaner transportation and support the government’s vision for a greener future.”
He said the EV charging initiative has already helped increase the number of electric vehicles on Egyptian roads by nearly 80 percent in recent years, reflecting the growing shift toward sustainable mobility.
“Our integrated approach, spanning renewable generation and EV infrastructure, demonstrates our commitment to a sustainable, low-carbon.
