Markets Masdar-backed Infinity Power considers Abu Dhabi IPO By Neil Halligan December 18, 2024, 5:03 PM Alamy via Reuters Infinity Power, a developer of solar and onshore wind farms in Egypt, South Africa and Senegal, intends to pursue a listing on global stock exchanges. Abu Dhabi is identified as the initial target IPO within next 3 years Listing of 20% to 30% of shares Other exchanges considered Infinity Power, a joint venture between Egypt’s Infinity and the UAE’s Masdar, is considering listing on the Abu Dhabi stock exchange within the next three years, according to its chairman. “If we’re going to list today, our preference would be Abu Dhabi,” Mansour said. “Maybe that changes in a year or two. It depends on how the markets evolve.” He said the company would be most likel to list around 20 to 30 percent of its shares. It is also considering issuing green bonds. Infinity Power, which is developing solar energy and wind power projects in Egypt and Africa, will consider listing on exchanges in Dubai, Johannesburg, London, and Cairo, Mohamed Ismail Mansour told Bloomberg in an interview. This year has been busy for initial public offerings, with 30 across the GCC countries in the first nine months of 2024, raising $5.2 billion. Masdar takes majority stake in Greek clean energy player UAE companies sign renewable energy deals in Egypt Egypt and UAE company to develop $600m wind power plant Infinity Power, launched in 2020, is targeting 10 gigawatt (GW) of operational renewable energy by 2030 with an investment of $5 billion. It currently operates 1.3GW of solar power and onshore wind farms across Egypt, South Africa and Senegal. Last month Masdar, Infinity Power and Hassan Allam Utilities signed a deal with the Egyptian Electricity Transmission Company (EETC) to develop solar projects with a combined capacity of 1.2GW and 720MW of battery energy storage systems. In August it signed a power purchase agreement with the EETC for its 200MW wind farm located in Ras Ghareb, Gulf of Suez region.
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EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] 5 hours ago
