Masdar Joint Venture Boosts COP27 with Zero-Carbon Energy

Published on: 07 November 2022
by KnowESG
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Infinity Power Holding, a joint venture between Masdar and Egypt's Infinity, said that the solar photovoltaic (PV) plant it built in Sharm El-Sheikh is now fully operational and ready to supply clean, renewable energy to COP27.

The 6-megawatt (MWp) plant will continue to run after the conference, generating up to 11,723 megawatt-hours (MWh) of electricity each year, enough to power more than 5,000 homes while reducing CO2 emissions by almost 4,000 tonnes. Two other solar plants of similar size have also been developed ahead of COP27.

His Excellency Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, said: “Masdar is fast developing as the partner of choice for many of Egypt’s most important clean energy projects, and I am proud that we can deliver clean energy to support COP27 through our Infinity Power platform. The United Arab Emirates and Egypt share a common commitment to expanding the supply of renewable energy and supporting sustainable economic growth.”

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: “COP27 represents a vital opportunity to turn positive words into impactful actions, so it is important that we do what we can to reduce its carbon footprint and showcase sustainable solutions to the world. This solar power plant will help deliver clean energy to the conference and will also provide a legacy of sustainability for the people of Sharm El-Sheikh in future years.”

Mohamed Ismail Mansour, Chairman Infinity Power, said: “We are delighted to be able to support COP27 in Egypt, by delivering clean, renewable energy-based solutions to power the event. We will continue providing sustainable energy solutions to Sharm El-Sheikh for years to come through our solar plant, providing clean power to a city with an important role in Egyptian diplomacy and international relations.”

Nayer Fouad, CEO Infinity Power, said: “The solar power plant will not only contribute towards powering COP27 but will also provide sustainable energy, making an invaluable contribution towards Sharm El-Sheikh’s growing infrastructure. We look forward to delivering similar solutions to other cities in Egypt and across Africa as we move forward in our journey to provide sustainable energy solutions to the entire continent.”

Infinity Power, a COP27 Principal Partner, was established in 2020 to target power generation projects in Egypt and Africa using renewable energy sources like solar and wind technology on utility and industrial scales. With existing projects in Egypt, South Africa, Senegal, and Ghana, Infinity Power hopes to eventually expand its operations across all 54 African countries, providing electricity to all regions in Africa that are most in need of it.

Masdar, one of the renewable energy companies with the fastest growth rate in the world, wants to have a portfolio capacity of 100 gigawatts (GW) by 2030, with plans to double that capacity in the years after that.

The UAE government said that Abu Dhabi energy leaders TAQA, ADNOC, and Mubadala would become shareholders in Masdar in December 2021. This would create a global clean energy powerhouse that would be a major force in renewable energy and green hydrogen.

Infinity, founded in 2014, is Egypt's only dedicated renewable energy solutions company, developing clean energy solutions across many sectors and scales. Infinity has been leading Egypt and Africa toward a more sustainable future for more than a decade with well-planned, economically viable energy solutions that give everyone access to energy sources in a way that is efficient and sustainable.

Source: Masdar

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