Masdar and Infinity Power Alliance Signs Power Purchase Agreement with Egyptian Electricity Transmission Company

The Masdar-Infinity Power alliance has officially signed a power purchase agreement with the Egyptian Electricity Transmission Company (EETC) to enhance sustainable electricity production capacity from renewable energy generated by the Ras Ghareb onshore wind farm in the Gulf of Suez.

Yesterday’s statement said that once the project is completed, the total generation capacity of Ras Ghareb Wind Farm will reach 200 megawatts, with the station expected to produce 810,000 megawatts/hour of wind energy annually, in addition to reducing carbon dioxide emissions by 403,672 tons per year, contributing to achieving sustainability goals in Egypt.

This project is one of the latest projects to enhance the portfolio of Infinity Power, the joint venture between Masdar and Infinity, Africa’s largest renewable energy company, which aims to reach a total capacity of 10 gigawatts of renewable energy projects “in operation” by 2030.

With this ambitious goal achieved, Infinity Power will be able to provide electricity to 12 million homes across Africa by the end of the decade, and will also contribute to reducing carbon dioxide emissions by an amount of approximately 15 to 20 million tons annually.

The official signing ceremony, held at the Cabinet headquarters in El Alamein City, was attended by Egyptian Prime Minister Dr. Mostafa Madbouly, Minister of Industry and Advanced Technology, President of COP28 and Chairman of Masdar Dr. Sultan Ahmed Al Jaber, and Egyptian Minister of Electricity and Energy Dr. Mahmoud Mustafa Kamal Esmat. The agreement was signed by Masdar CEO Mohamed Jameel Al Ramahi, Infinity Power CEO Eng. Nayer Fouad, Acting Chairman of the Egyptian Electricity Transmission Company Salah Ezzat, and New and Renewable Energy Authority CEO Dr. Mohamed El Khayat.

“We are pleased to announce the start of construction of the Ras Ghareb onshore wind farm, a project that reflects our ongoing commitment to developing sustainable energy solutions for Egypt and the region,” said Mohamed Ismail Mansour, Chairman of Infinity Power.

“Through Infinity Power, a joint venture between Masdar and Infinity, Africa’s largest renewable energy company, we are providing the Egyptian Electricity Transmission Company with 200 megawatts of clean energy, equivalent to producing 800,000 megawatt hours and avoiding 403,000 tonnes of carbon emissions annually,” said Mohamed Jameel Al Ramahi, CEO of Masdar. “This landmark project is a significant milestone in our efforts to harness Africa’s renewable energy potential and support the transition to clean energy.”

In the same context, Eng. Nayer Fouad said: “The Ras Ghareb onshore wind farm represents an important addition to our list of renewable energy projects, which confirms our commitment to enabling Africa to become a global leader in sustainable and renewable energy.”