The London-based EBRD development bank announced on 13 June that it expects to approve a key $71.7mn loan for a planned 200MW wind farm on Egypt’s Gulf of Suez on 17 July.

The loanee is ‘Masdar IPH Wind’, a special purpose vehicle grouping UAE state renewables firm Masdar (51%) and its part-owned subsidiary Infinity Energy (49%) “to finance the development and construction of a 200 MW onshore wind farm in Ras Gharib located in the Gulf of Suez region.” (CONTINUED - 269 WORDS)