The European Bank for Reconstruction and Development (EBRD) could invest USD 60 mn in Infinity Solar to develop new renewable energy projects, it said in a statement. The bank plans to invest in electricity distribution infrastructure and EV charging stations, in addition to either new solar plants or onshore wind facilities. “The project is in line with the efforts undertaken by the EBRD to scale up renewable energy penetration in Egypt’s energy mix, and promote the liberalization of the electricity sector by supporting the private-to-private (merchant) renewable energy segment,” the bank said. The proposal passed its structure review and is now pending the final review.

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