EBRD finances Infinity Power's first greenfield wind farm in Egypt
Egypt, Sept. 18 -- The European Bank for Reconstruction and Development (EBRD) continues to champion Egypt's renewable energy ambitions with a new funding arrangement for the development and construction of a 200 MW wind farm in the Ras Ghareb region.The EBRD is providing a comprehensive financing package of US$ 74.1 million for the 200 MW Ras Ghareb onshore wind farm in Egypt jointly owned by Infinity Power and Masdar. The package includes an EBRD senior loan of up to US$ 60.7 million, a concessional loan of up to US$ 3.38 million from the Green Climate Fund (GCF) and an investment grant of up to US$ 10 million.The EBRD is the principal development partner for Egypt's flagship Nexus on Water, Food and Energy (NWFE) initiative and is acting...
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