Help Desk -
9958816305, 9810335381
Email
Password

EBRD Becomes Shareholder in Egypt’s Infinity Energy

Power News - Published on Mon, 20 Jan 2020

Image Source: EBRD Infinity Energy
The EBRD is investing USD 60 million to become a shareholder in Infinity Energy SAE, one of Egypt’s leading private energy companies 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. The Egyptian government has declared a target for 20 per cent of its electricity generation from renewable sources by 2022 and 42 per cent by 2035.

Source :

Posted By : Arun Huidrom on Mon, 20 Jan 2020
Related News from Power segment