Infinity Solar to build EUR 350 mn, 300 MW wind power plants in Gulf of Suez

Infinity Solar is planning to build EUR 350 mn-worth of wind power plants with a combined capacity of 300 MW in the Gulf of Suez, a source from the New and Renewable Energy Authority (NREA) tells Al Mal. The company has submitted a request to the NREA to allocate three plots of land to for the plants, which it will set up under an independent power producer (IPP) framework. We had previously noted that Infinity is looking to invest USD 400 mn in renewables projects in Egypt between 2019-2021 and had recently obtained licenses for two wind-powered stations with a combined capacity of 100 MW.