Camana Bay, Cayman Islands, 29th October 2026. Infinitum Energy (“Infinitum“, “IEG“, or the “Company“) is pleased to announce its acquisition of a 25.5% interest in Phoenix Power 1 S.A.E. (“Phoenix Power” or the “Project”), the owner of a 64.12 MWp (50 MWac) operational solar photovoltaic plant in the Benban Solar Park, Aswan, Egypt. Infinitum joins Infinity Power (a Masdar and Infinity Energy joint venture) as a shareholder in the Project.
Lindsay Nagle, Infinitum’s CEO, commented: “We are very excited about this acquisition that validates our commitment to our investors to secure high yielding, risk mitigated renewable energy investments with world-class partners. We are proud to join hands with Infinity Power (who are supported by the Abu Dhabi sovereign funded Masdar) in delivering clean and affordable energy in one of the best performing renewable assets in Egypt. I would also like to thank Paulmarg Group SAS for introducing this opportunity to us; their support was instrumental in getting this transaction done.”
Eng. Nayer Fouad, Co-founder and CEO of Infinity Power, said: “We are delighted to welcome Infinitum Energy as a new shareholder in Phoenix Power. As one of the early solar projects developed by our team under Egypt's Feed-in Tariff Round 2 programme, Phoenix 50 represents an important milestone in both our renewable energy journey and the country's energy transition. Since entering commercial operation in 2019, the project has delivered reliable clean energy and maintained strong operational performance. We look forward to partnering with Infinitum Energy to ensure the project's continued success and long-term value creation.”
Infinitum's interest was acquired through the purchase of 100% of MENA Power Limited from the Catalyst MENA Clean Energy Fund. Infinitum assumes MENA Power’s seat on the Phoenix Power board.
Phoenix Power has been in commercial operation since April 2019 and generates approximately 151 GWh of clean electricity each year. The power is sold to the Egyptian Electricity Transmission Company (“EETC”) under a 25-year Power Purchase Agreement running to 2044, as part of Egypt’s Feed-in Tariff programme. The plant uses Tier-1 modules, inverters and single-axis trackers, and has maintained plant availability of between 99.6% and 100% since commissioning.
Benban is one of the largest solar parks in the world and a flagship of Egypt’s renewable energy strategy. The acquisition is Infinitum’s first operating asset and its first investment in Egypt. It adds contracted, long-term cash flow to a development portfolio spanning Sierra Leone and Sri Lanka.
About Infinitum Energy
Infinitum Energy is a privately held company specialising in the development and ownership of clean energy and climate infrastructure projects in emerging markets. The Company is dedicated to developing utility-scale projects that deliver reliable power, support economic development and create long-term value in the communities in which it works.
Backed by international experience and a commitment to execution, Infinitum Energy pursues opportunities where strong project fundamentals align with meaningful impact. The Company believes the transition to cleaner energy should be both commercially viable and socially beneficial.
For further information on the Company, please visit www.infinitumenergygroup.com
About Infinity Power
Infinity Power, a joint venture between Infinity and Masdar, is the largest African pure-play renewable energy provider. Infinity Power targets power generation projects in Africa through renewable energy sources, namely solar and wind, as well as other technologies such as battery storage, aiming for 10 GW of operational capacity by 2032.
The company has a substantial operational portfolio of approximately 1.3 GW across Egypt, South Africa and Senegal, helping to avoid over 3 million tonnes of CO₂ emissions annually, alongside 6.3 GW of wind and solar capacity under development, including 3.8 GW in advanced development. For further information about Infinity Power, visit www.weareinfinitypower.com
Media Contact
David chambers
Email: dchambers@headlandconsultancy.com
Phone: +44 75 5788 7405
Emma Joseph
Email: ejoseph@headlandconsultancy.com
Phone: +44 7311 369897
About Catalyst
Catalyst Investment Management (“Catalyst”) is a renewable energy and water sector investment management firm based in Jordan, and a first mover in the MENA solar industry. Through its Catalyst MENA Climate Fund series, Catalyst invests in projects that deliver attractive financial returns and strategic impact across the Middle East and North Africa, integrating ESG principles aligned with the IFC Performance Standards and ILO Core Labour Standards. For more information, please visit www.catalystpe.com.
About Paulmarg Group SAS
Paulmarg Group is a Paris-headquartered firm that advises on, develops and finances critical infrastructure across Africa and the Middle East. Guided by the conviction that closing Africa’s infrastructure financing gap starts with execution, the firm combines project development expertise, financial structuring and capital mobilisation to originate, structure and close transactions across energy, mining and infrastructure. Its partners lead each mandate directly, working closely with developers, operators and investors to overcome execution challenges and unlock value in special situations. For further information, please visit www.paulmarg.com.
ON BEHALF OF THE BOARD
Lindsay Nagle
Director & CEO
For more information contact:
Lindsay Nagle, Director & CEO
lindsay@infinitumenergygroup.com
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