LAGOS, Nigeria — October 28, 2025. Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced that its portfolio company, Infinity Power, has achieved financial close on the 200MW Ras Ghareb Wind Farm in Egypt — a project that reinforces Africa’s growing role in global renewable energy investment.
The milestone follows a series of landmark transactions by AFC, including a US$700 million capital raise by investee company Arise IIP, and AFC’s own record US$1.5 billion syndicated loan, underscoring increasing global capital flows into African-led infrastructure.
Infinity Power, Africa’s largest independent renewable energy platform, secured US$153 million in senior debt for the Ras Ghareb project from the European Bank for Reconstruction and Development (EBRD), Proparco, and the Japan International Cooperation Agency (JICA). Construction, led by POWERCHINA, began last month in the Gulf of Suez.
Once operational in 2027, Ras Ghareb will generate around 810,000 MWh of clean electricity annually — enough to power over 300,000 homes and avoid approximately 390,000 tonnes of CO₂ emissions per year.
“The funding for Ras Ghareb exemplifies AFC’s collaborative role as an originator, developer, and long-term investor, driving international capital into transformative African infrastructure,” said Sameh Shenouda, Executive Board Member and Chief Investment Officer at AFC. “It reinforces our conviction in building globally bankable, African-led platforms capable of crowding in institutional capital at scale.”
Infinity Power currently operates 14 wind and solar assets totaling 1.3GW of installed capacity, with expansion plans targeting 10GW by 2030 across South Africa, Côte d’Ivoire, Egypt, and Senegal. Since inception, Infinity has supplied clean power to 1.2 million homes and businesses, invested US$3.5 million in community projects, and directly impacted over 39,000 lives through local initiatives.
“The Ras Ghareb project strengthens Infinity Power’s position as Africa’s leading renewable energy company, made possible through the backing of AFC, EBRD, and Masdar,” said Mohamed Ismail Mansour, Chairman of Infinity Power.
The project’s financial close follows AFC’s partial exit from Arise IIP, a deal that attracted Saudi Arabia’s Vision Invest as a shareholder — one of the largest Africa-focused capital raises in recent years. AFC says it intends to replicate similar success in the power sector, continuing to mobilize institutional investment for Africa’s energy transition.
Founded in 2007, AFC has invested over US$15 billion across 36 African countries, spanning power, natural resources, heavy industry, transport, and telecommunications. The institution now has 46 member countries and is a leading financier of renewable and industrial infrastructure across the continent.
For more information, visit www.AfricaFC.org.
