Global law firm DLA Piper advised Infinity Power Holding, a joint venture between Abu Dhabi Future Energy (Masdar) and Infinity Energy S.A.E., on the development and financing of its 200MW onshore wind farm in Ras Ghareb, Egypt (the Project).
A Power Purchase Agreement was signed with the Egyptian Electricity Transmission Company (EETC) in August 2024. Financing of USD164 million was secured from a consortium of lenders, including the European Bank for Reconstruction and Development (EBRD), Japan International Cooperation Agency (JICA), and Société de Promotion et de Participation Pour la Coopération Economique (Proparco). The Project will be constructed under an EPC arrangement with PowerChina.
Once complete in 2027, the Project is expected to generate approximately 810,000 MWh of clean electricity annually, enough to power around 311,000 homes. The Project marks a significant contribution to Egypt’s renewable energy ambitions and supports the broader energy transition across the region.
The DLA Piper team was led by Project’s partners Iain Elder and Nikhil Markanday together with legal director Mark Valenzia and senior associate Sam Comer. They were supported by legal directors Kathy Sharp and Jennifer Jin, senior associate Priyanka Paunrana, associates Devanshu Jain and Raluca Padure and trainee solicitors Jack Ford and Seth Heward-Mills, all from the firm’s Project’s practice.
Commenting on the significance of the transaction, Iain Elder said: “This landmark project enhances Infinity Power Holding’s generation capacity in Egypt and sets a framework for future clean energy developments in the region. The financing structure, backed by a diverse consortium of lenders, reflects growing investor confidence in large-scale renewables. This financing builds on our firm’s extensive experience advising on off-and onshore wind projects globally, including complex multi-jurisdictional transactions”.