Infinity Power, a joint venture between Netherlands-headquartered Infinity Group and UAE-based Masdar, announced on Monday that its consortium with Masdar has officially signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 200 megawatts (MW) onshore wind project, located in Ras Ghareb, Gulf of Suez region.
Construction and financial close timelines weren't disclosed but Infinity Power said the project is estimated to produce 810,000MWh per year, and offset 403,672 tonnes of CO2 equivalent emissions per year. The PPA was signed by Mohamed Jameel Al Ramahi, CEO of Masdar, Nayer Fouad, CEO of Infinity Power, Salah Ezzat, Acting Chairman of EETC and Mohamed El-Khayat, CEO of NREA in Al-Alamein city.
Infinity Power's existing operational portfolio across Egypt (where it operates the 252MW West Bakr wind farm), South Africa and Senegal comprises 1.3 gigawatts (GW) of solar power and onshore wind farms. The company is targeting 10GW of operational renewable energy in Africa by 2030 at an estimated investment of $5 billion.
Last month, Infinity Power signed an MoU with Sierra Leone to develop 1-gigawatt (GW) of renewable energy capacity in the West African country in phases by 2033.
No comments:
Post a Comment