Infinity Power, a joint venture between the Netherlands-based Infinity Group and the UAE’s Masdar, has announced a new milestone with the signing of a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC).
The agreement covers a 200 MW onshore wind project located in Ras Ghareb, in the Gulf of Suez region.
While specific timelines for construction and financial closure were not disclosed, Infinity Power projects that the wind farm will generate 810,000 MWh annually and reduce CO2 equivalent emissions by 403,672 metric tons per year.
The PPA was signed by Mohamed Jameel Al Ramahi, CEO of Masdar; Nayer Fouad, CEO of Infinity Power; Salah Ezzat, Acting Chairman of EETC; and Mohamed El-Khayat, CEO of the New and Renewable Energy Authority (NREA), in Al-Alamein city.
Infinity Power currently manages 1.3 gigawatts (GW) of solar and onshore wind capacity across Egypt, South Africa, and Senegal, including the 252 MW West Bakr wind farm in Egypt.
The company is targeting 10 GW of operational renewable energy in Africa by 2030, with an investment goal of $5 billion.
