Cairo, Egypt, 17 August 2024: Today, Infinity Power and Masdar, the UAE’s clean energy powerhouse, have officially signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) to deliver a long-term supply of renewable energy generated by a landmark onshore wind project, located in Ras Ghareb, Gulf of Suez region.
Once constructed, the wind farm will have a capacity of 200MW and is estimated to produce 810,000MWh per year. Consequentially, it is predicted to avoid 403,672 tonnes of CO2eq emissions per year, helping to support Egypt’s sustainability ambitions.
This venture will serve as the latest in a series of developments to expand Infinity Power’s portfolio. As the largest African renewable energy company, Infinity Power is targeting 10GW of operational renewable energy by 2030. This target will have the capability to provide electricity to 12 million homes across the African continent by the end of this decade and would contribute a further reduction of approximately 15 to 20 million tons of carbon dioxide emissions per year.
The agreements are signed by Mohamed Jameel Al Ramahi, CEO of Masdar, Eng. Nayer Fouad, CEO of Infinity Power, Salah Ezzat, Acting Chairman of EETC and Dr. Mohamed El-Khayat, CEO of NREA. The official signing ceremony, held at the Egyptian Cabinet in Al-Alamein city, was attended by H.E. Dr. Moustafa Madbouly, Prime Minister of Egypt, Dr. Mahmoud Mustafa Kamal Esmat, the Minister of Electricity and Energy, H.E. Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President, and Chairman of Masdar, Sabah Mashali, Deputy Minister of Electricity and Energy, Mohamed Ismail Mansour, Chairman of Infinity Power,Hisham El Gamal, Director of Government Affairs, Infinity Power, Mokhtar AbulAta, Director of North Africa, Infinity Power and Nourhan Ghareeb, Head of Legal, Infinity Power.
Mohamed Ismail Mansour, Chairman of Infinity Power, said, "We are excited to announce the construction of the Ras Ghareb wind farm, a project that symbolizes Infinity Power's steadfast commitment to advancing sustainable energy solutions. This initiative not only expands our footprint in Egypt but also signifies another big stride in bolstering our local impact in the renewables sector, creating valuable jobs. We remain committed to elevating our contributions to a cleaner, greener future.”
Eng. Nayer Fouad, CEO of Infinity Power, added, “The addition of the Ras Ghareb wind farm to our growing roster reinforces our commitment to positioning Africa as a leader in sustainable energy. This is one of the many steps we will take as we pursue our ambition to develop renewable energy projects in every part of Africa.”
ENDS
About Infinity Power
Infinity Power is the largest African pure play renewable energy provider. The joint venture between Egypt’s Infinity and Masdar (Abu Dhabi Future Energy Company) targets power generation projects in Africa through renewable energy sources, namely solar and wind, as well as other technologies such as green hydrogen and water desalination.
The company also develops complementary technologies such as battery storage and transmission grids. In this way, Infinity Power can provide answers to the challenges of energy supply and power insecurity across the African continent. The company aims to have 10 GW of operational renewable energy projects by 2030.
Infinity Power brings together the strong track records of both Infinity and Masdar (Abu Dhabi Future Energy Company) in developing and operating renewable energy assets. It has a substantial operational portfolio across Egypt, South Africa and Senegal, including 1.3GW of solar power and onshore wind farms, which equates to a reduction of more than 3 million tons of CO2 emissions per year using conventional power generation.
Infinity Power is committed to lighting up Africa and supporting the sustainable development of renewable energy across the continent, while creating opportunities for economic, educational and environmental benefits in local communities.
For more information about Infinity Power and its portfolio of renewable energy projects, please visit: www.weareinfinitypower.com
Media Contact:
Name: Engy Emad
E-mail: engy.emad@traccs.net
Mobile: +20 100 900 2207
About Masdar
Masdar (Abu Dhabi Future Energy Company) is one of the world’s fastest-growing renewable energy companies. As a global clean energy pioneer, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transition and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of over 20 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future.
Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.
Contacts:
For media inquiries, please contact: press@masdar.ae
For more information, please visit: https://www.masdar.ae and connect: facebook.com/Masdar.ae and twitter.com/Masdar