Infinity Energy S.A.E. (EBRD-50558)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 27, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Infinity Energy S.A.E.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 203.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 2, 2020

Disclosed by Bank Oct 14, 2019


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Project Description

According to bank documents, the investmnet is an equity investment in Infinity Energy SAE of up to USD 60 million to finance the development, construction and operation of renewable energy projects and associated ancillary business including electricity distribution and electro vehicle charging stations in Egypt and across SEMED countries.

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Infinity Energy SAE was established in 2014 as part of the Mansour Group to engage in renewable energy development in Egypt and across the region. The company has a portfolioof operational solar photovoltaic power plants in Egypt with a combined capacity of 184 MWac implemented under the Feed-in-Tariff ("FiT") programme.

Contact Information

Mohamed Shehata
mshehata@eg-infinity.com
02 252 82240
http://www.infinitysolar.com/

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.