Egypt-headquartered Infinity power has noted its focus on closing a new $1 billion solar-battery project in Egypt. The scope of the project is one that is expected to generate 1.2 GW and is expected to follow the financial close on its 200 MW Ras Ghareb wind farm. The farm is co-owned with UAE-based Masdar. Hisham Elgamal, General Manager of Infinity Power noted the new solar plus battery storage project requires a $1 billion investment.
Infinity Power is joint venture (JV) between Infinity Energy and Masdar. In November 2024, a consortium of Masdar, Infinity Power and Hassan Allam Utilities had signed two Power Purchase Agreements (PPAs). The agreements were signed with Egyptian Electricity Transmission Company (EETC) for the construction of solar projects. Moreover, the plants were to have a combined capacity of 1.2GW and 720 MWh Battery Energy Storage Systems (BESS). Renewable projects have been at the forefront of Egypt’s agenda with projects such as the Gulf of Suez Wind Farm II, Africa’s Largest, showing their zeal and commitment in including renewable energy in their grid. The solar-battery project compliments this development as it will produce and store power that may be used during peak hours.
Project Factsheet:
Significance:
- Aims to deliver 1.2 GW solar capacity with 720 MWh battery storage.
- Strengthens Egypt’s renewable energy capacity and grid reliability.
- Supports the country’s green energy targets and positions Egypt as a regional clean energy hub.
Infrastructure:
- Planned solar facilities supported by large-scale Battery Energy Storage Systems (BESS).
- Builds on Infinity Power’s existing 250+ MW solar projects, including four stations at the Benban complex.
- Designed to provide reliable power and expand electricity access nationwide.
Developer/Consortium:
- Developed by Infinity Power, a joint venture between Egypt’s Infinity Energy and UAE-based Masdar.
- Backed by agreements signed with the Egyptian Electricity Transmission Company (EETC).
- DLA Piper advised Infinity Power on financing structures.
Funding/Timeline:
- Total investment estimated at US$1 billion.
- Project follows financial close of the 200 MW Ras Ghareb wind farm, co-owned with Masdar.
- Financing raised for Ras Ghareb: US$164 million.
- Expansion pipeline includes a 300 MW wind project in Hurghada and a 1,000 MW project in Ras Shukeir.
The Significance of Infinity Power Solar-Battery Project
Once complete, the significance of Infinity Power’s solar-battery project is one that cannot be understated. The plant will be able to produce electricity to many local residents and add more people to the grid. Infinity Power already operates solar energy projects in Egypt with a combined capacity of more than 250 MW. These include four stations within the world’s fourth largest solar energy complex in Benban. “We are proud to be at the forefront of Egypt’s renewable energy transformation,” said Elgamal. He also noted that the new projects represent a significant step toward achieving the country’s green energy targets.
Furthermore, it will position Egypt as a regional hub for clean energy. Elgamal said the company is planning to further expand its wind energy portfolio in Egypt with a 300 MW project in Hurghada. It also aims to implement a 1,000 MW project in Ras Shukeir. The total financing raised for the project is $164 million, according to DLA Piper, which advised Infinity Power on the transaction. The total financing raised for the Ras Ghareb is $164 million, according to DLA Piper, which advised Infinity Power on the transaction
