AFC’s Infinity Power Secures $153M for Egypt Wind Farm in Clean Energy Surge

In a significant stride for Africa's renewable energy ambitions, Africa Finance Corporation (AFC), the continent's premier infrastructure solutions provider, has announced the financial close of the 200-megawatt (MW) Ras Ghareb Wind Farm in Egypt. The project is being developed by Infinity Power, a portfolio company of AFC and Africa's largest independent renewable energy provider.

Coming swiftly after two major financial milestones—a $700 million capital raise for Arise IIP and a record $1.5 billion syndicated loan for AFC—this new achievement reflects growing global confidence in African-led, bankable infrastructure platforms that are transforming the continent's energy and industrial landscape.

Wind Power for 300,000 Homes by 2027

Situated in the Gulf of Suez, construction of the Ras Ghareb Wind Farm began last month under the leadership of Power Construction Corporation of China (POWERCHINA), which is serving as the engineering, procurement, and construction (EPC) contractor. The project has secured $153 million in senior debt financing from a consortium of global development financiers:

• European Bank for Reconstruction and Development (EBRD)

• Proparco (France)

• Japan International Cooperation Agency (JICA)

Once operational in 2027, the wind farm will produce approximately 810,000 megawatt-hours (MWh) of clean electricity annually—sufficient to power over 300,000 homes. It is expected to avoid 390,000 tonnes of carbon dioxide emissions every year, making a significant contribution to Egypt's climate goals and regional decarbonization.

Strategic Role in AFC's Clean Energy Platform

"This project is a compelling example of AFC's collaborative role as an originator, developer, and long-term investor, driving international capital into transformative African infrastructure," said Sameh Shenouda, Executive Board Member and Chief Investment Officer at AFC. "Our continued investment in Infinity Power, alongside partners such as Masdar and EBRD, reaffirms our belief in building African-owned platforms that attract global capital at scale."

Since 2022, AFC has strategically supported Infinity Power—a joint venture between Egypt's Infinity and UAE-based Masdar—to scale renewable energy solutions across the continent. The Ras Ghareb project is one of many in Infinity's expanding pipeline, and a critical step toward achieving its target of 10 gigawatts (GW) of installed capacity by 2030.

Infinity Power: Africa's Green Powerhouse

Infinity Power currently operates 14 wind and solar power projects across Africa, with a total installed capacity of 1.3GW. The company has:

• Delivered clean power to over 1.2 million homes and businesses

• Invested $3.5 million in local community programs

• Improved the lives of more than 39,000 people through socio-economic development initiatives

Its projects are being advanced in South Africa, Côte d'Ivoire, Egypt, and Senegal, reflecting a robust and geographically diversified clean energy expansion strategy.

According to Mohamed Ismail Mansour, Chairman of Infinity Power:

"The Ras Ghareb project reinforces Infinity Power's position as Africa's leading renewable energy company. Thanks to the strong support of our shareholders—AFC, EBRD, and Masdar—we are scaling a pipeline of projects that combine commercial viability with deep community impact and long-term sustainability."

Momentum Builds With Arise IIP and Record Syndicated Loan

The Ras Ghareb financing comes on the heels of two other major AFC milestones:

1. $700 million capital raise for Arise IIP, a pan-African developer and operator of integrated industrial platforms. The raise included the onboarding of Saudi Arabia's Vision Invest as a new shareholder.

2. $1.5 billion syndicated loan secured by AFC, the largest in its history, positioning the corporation to mobilize greater resources for future infrastructure projects.

These developments exemplify AFC's successful model of incubating African infrastructure platforms, achieving partial exits, and recycling capital into new transformative projects. The Corporation intends to replicate this model in the power sector, particularly in renewable energy, to attract more institutional investors.

Renewables at the Heart of AFC's Strategy

AFC's renewable energy strategy focuses on bankable, large-scale clean energy projects that:

• Expand access to affordable, reliable power

• Support climate action by reducing fossil fuel dependency

• Create economic opportunities through infrastructure development

With investments in wind, solar, and hydro projects, AFC has positioned itself as a central player in Africa's clean energy transition. Its strategic approach emphasizes the creation of de-risked, scalable platforms that can unlock billions in co-financing from global partners.

A Model for Scalable African Clean Energy

The Ras Ghareb Wind Farm symbolizes more than just a renewable energy project—it represents a new era of African infrastructure, led by African institutions and powered by global capital and partnerships. With Infinity Power at the forefront and AFC acting as a catalyst, the continent is laying the groundwork for a sustainable, resilient, and self-reliant energy future.