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Thursday, 16 January 2020

EBRD invests USD 60 mn in Egypt’s Infinity Energy

INVESTMENT WATCH- EBRD invests USD 60 mn in Egypt’s Infinity Energy: The European Bank for Reconstruction and Development (EBRD) has become a shareholder in Infinity Energy after investing USD 60 mn equity in the energy company, according to an official statement. The new investment is earmarked for developing renewable energy and electricity distribution projects as well as electric vehicles charging stations. Infinity this week established a joint venture with Emirati renewable energy company Masdar under the name of Infinity Power. The new company aims to produce 1 GW of power from renewable projects within the next five years.

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