Infinity Power, a joint venture between Egypt’s Infinity and the UAE’s Masdar, is targeting 10GW of operational renewable energy by 2030, equal to $5bn investment.
This follows the acquisition and integration of Lekela Power and significant additions to Infinity Power’s pipeline.
Infinity Power is one of Africa’s largest pureplay renewable energy companies with an operational capacity of more than 1.3GW including solar and wind farms across Egypt, South Africa and Senegal.
Achieving 10GW operational capacity will have the capability to provide electricity for 12 million homes across the African continent by the end of this decade and would contribute a further reduction of approximately 15 to 20 million tons of carbon dioxide emissions per year.
Infinity Power aims to operate across all corners of Africa within the next 10 years, including transformational projects such as one of the world’s largest onshore wind farms in Egypt alongside consortium partners Hassan Allam Utilities and Masdar (Abu Dhabi Future Energy company), green hydrogen development in Mauritania with German developer Conjuncta, and solar PV projects in Egypt and South Africa.
Mohamed Ismail Mansour, Chairman of Infinity Power said: “Infinity Power is rapidly evolving as the leader in pureplay renewables in Africa, supporting our mission to deliver sustainable energy solutions that power economic growth, social development and environmental protection.
“Our projects already power millions of homes and recent strategic additions to our portfolio will enable us to make significant progress towards providing clean, reliable and affordable energy supply to many more people across Africa.”
The acquisition of Lekela Power has allowed Infinity Power to benefit from the business’ renewable assets and pipeline.