Infinity Power, a joint venture between Infinity and Masdar, has set the impressive target of achieving 10GW of operational renewable energy by 2030
Already holding an operational capacity of more than 1.3GW (including solar and wind sites in Egypt, South Africa and Senegal), Infinity Power is Africa’s largest pureplay renewable energy company. Recently, the company has made headlines with the acquisition of Lekela Power, adding significant additions to its pipeline and allowing the business to integrate technologies and systems to create synergies and reduce overhead costs.
Achieving 10GW of operational capacity is expected to equate to a US$5bn investment and, if completed, is expected to provide electricity to 12 million homes across the continent. As part of its plans, Infinity Power is aiming to operate across all corners of African within the next 10 years.
Mohamed Ismail Mansour, chairman of Infinity Power, remarked, “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.”
Included in this expansion is continued, concerted growth into solar and onshore wind projects as well as supporting complementary technologies and projects around battery storage, transmission grids, green hydrogen and water desalination.
In the statement, Infinity Power reiterated that it uses a ‘multi-local’ approach in its operations, hiring local experts in each market and working with on-ground stakeholders to foster economic and community development. This is underpinned by stakeholder partnerships.
Nayer Fouad, CEO of Infinity Power, said, “Africa has the potential to be a global leader in renewable energy. It starts with ensuring every person in every part of Africa has access to electricity. Beyond that, we believe in the next two decades Africa can become a net exporter of clean energy and support COP28’s agenda to reach net zero emissions across the planet by 2050.”
Read African Review's full interview with Mohamed Ismail Mansour earlier this year at: https://africanreview.com/magazine-archives/african-review-july-2023
