EBRD Backs 200 MW Ras Ghareb Wind Farm, Advancing Egypt’s 10 GW Renewable Energy Target by 2028
The European Bank for Reconstruction and Development (EBRD) has approved $74.1 million to develop a 200 MW wind farm in Ras Ghareb, reinforcing Egypt’s ambitions to expand its renewable energy capacity.
The project will be led by Infinity Power and Masdar, supported by a senior EBRD loan of up to $60.7 million, a $3.38 million concessional loan from the Green Climate Fund (GCF), and a $10 million grant. Construction is expected to begin shortly.
Once operational, the wind farm will reduce annual CO₂ emissions by approximately 390,000 tonnes and contribute to Egypt’s goal of achieving 10 GW of renewable energy capacity by 2028 under the New and Renewable Energy (NWFE) program.
The EBRD will also launch a certified internship program in Ras Ghareb for young engineers, with a focus on women in the energy sector, strengthening local skills and fostering inclusivity in the renewable energy workforce.
Harry Boyd-Carpenter, Managing Director of the EBRD’s Sustainable Infrastructure Group, highlighted the project as an example of successful collaboration between innovative companies and committed financiers, noting partnerships with JICA, Proparco, and the GCF.
Infinity Power Chairman Mohamed Ismail Mansour praised the cooperation of international partners and Egyptian authorities, describing it as critical to Egypt’s clean energy agenda and Africa’s wider energy transition.
Infinity Power, a joint venture between Infinity and Masdar, already operates 1.3 GW of renewable capacity in Egypt, Senegal, and South Africa, with 16 GW in development and a target of 10 GW across Africa by 2030.
Since 2012, Egypt has attracted over €13.5 billion in EBRD funding across 206 projects. Its new Narrative for Economic Development places the green transition at the heart of its growth strategy through 2030, highlighting the nation’s commitment to sustainable energy and economic development.
