AFRICA
Renewable energy is moving from climate ambition to infrastructure reality across Africa, with solar and wind projects gaining ground because they are faster to build, easier to finance and less exposed to imported fuel shocks.
BUSINESS
Africa Finance Corporation’s portfolio company Infinity Power has achieved financial close on the 200MW Ras Ghareb Wind Farm in Egypt, securing $153 million in financing from EBRD, Proparco, and JICA. Once complete, the project will power 300,000 homes and cut 390,000 tonnes of CO₂ annually.