Infinity Solar in talks for USD 45 mn facility to fund 30 MW power plant

Infinity Solar is in negotiations for over USD 45 mn in loans to fund its 30 MW solar power plant as part of phase two of the feed-in tariff (FiT) program, human resources director Hisham El Gamal tells Al Mal. The company is in talks with four lenders including the International Finance Corporation and the European Bank for Reconstruction and Development, he said. The Egyptian Electricity Transmission Company sent power purchase agreements and contracts to FiT phase two investors two weeks ago to review them and send them to financial institutions, a source at the company tells the newspaper.