EBRD invests $60m in Egypt's Infinity Energy

In:

Renewable energy, Traditional energy

Region:

Middle East & Africa

The European Bank for Reconstruction and Development is investing $60 million to become a shareholder in Egyptian private energy company Infinity Energy through the issuance of new shares.

The funds will go towards developing the company’s pipeline of renewable energy and electricity distribution projects as well as electric vehicles charging stations.

This investment comes in parallel to the signature of a joint venture agreement between Infinity Energy and Abu Dhabi Future Energy Company PJSC (Masdar), under which Masdar will invest in Infinity Energy’s portfolio of renewable assets, and partner with Infinity in upcoming renewable energy projects in Egypt and Africa

The investment will contribute to Egypt's ongoing energy transition by supporting the growth of renewable energy.

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