Ras Ghareb wind farm set to power Egypt’s net zero goals

The European Bank for Reconstruction and Development (EBRD) has approved a US $74.1 million (£54m) financing package to build a 200 MW onshore wind farm in Egypt’s Ras Ghareb region, reinforcing the country’s drive to cut emissions and expand renewable power.

The project, jointly owned by Infinity Power and Masdar, includes an EBRD senior loan of up to US $60.7 million, a US $3.38 million concessional loan from the Green Climate Fund (GCF) and a US $10 million investment grant.

Construction will begin within weeks and will contribute to Egypt’s target of 10 GW of renewable energy by 2028 under its flagship Nexus on Water, Food, and Energy (NWFE) program.

Once operational, the wind farm will generate enough electricity to power more than 300,000 homes and is expected to cut annual carbon emissions by around 390,000 tonnes.