Masdar, Infinity Power, and Hassan Allam Utilities will build USD 900 mn worth of solar power stations in Egypt

A Masdar consortium is making another big investment in Egypt’s solar industry: Masdar and consortium partners Infinity Power and Hassan Allam Utilities will build solar power plants in Upper Egypt with a combined capacity of 1 GW at a cost of USD 900 mn after the Egyptian government greenlit the move, Asharq Business, citing an unnamed government official. The projects fall under Egypt’s build-own-operate (BOO) framework.

What’s next? The final agreements should be signed in October, the source said, adding that Masdar should have the projects up and running and feeding the national electricity grid before the end of 2025.

Masdar is no stranger to the Egyptian market: Together with Hassan Allam Utilities and Infinity Power, it is building a USD 11 bn, 10 GW wind farm in Sohag that is set to be one of the largest wind farms globally and the largest in Africa. It is also working with Infinity and the EETC to build 200 MW wind farm in Ras Ghareb.