(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 11. The European Bank for Reconstruction and Development (EBRD) has committed an additional $40 million in equity to Infinity, Egypt's renewable energy developer, raising its total investment to $141.5 million, Trend reports via the bank.

The new capital will support Infinity Power, Infinity's subsidiary, in delivering around 3 GW of renewable energy capacity across key African markets.

Infinity Power, a joint venture between Egypt's Infinity and Abu Dhabi's Masdar, currently operates more than 1.3 GW of solar and wind projects in Egypt, South Africa, and Senegal, with a near-term development pipeline of 3 GW. The projects aim to provide clean, reliable, and affordable energy while promoting economic growth and energy access across the continent.

Mohamed Ismail Mansour, Chairman of Infinity Power, emphasized that the EBRD's continued support reflects a shared vision of a sustainable and fast-growing future for Egypt and Africa, creating jobs and strengthening energy security.

Harry Boyd-Carpenter, Managing Director of EBRD's Sustainable Infrastructure Group, noted that the investment marks a significant step in expanding Infinity's presence across Africa, supporting decarbonization and sustainable infrastructure development.

Since beginning operations in Egypt in 2012, the EBRD has invested over 13.5 billion euros in 207 projects, reflecting its long-term commitment to the country's economic and green transition.

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