HAU Energy and Infinity Power secure up to $566mln for Nefer Minya, set to become Egypt and Africa’s largest solar power plant
Zawya · Zawya ·
Landmark investment combines 1.2 GWp of solar capacity with 600 MWh of battery storage to strengthen Egypt’s energy security.
Cairo, Egypt: Infinity Power and HAU Energy secured a total debt financing package of up to USD 566 million, including up to USD 265 million arranged by EBRD, for the development of the Nefer Minya Solar PV Project. This marks a major milestone in their partnership to advance Egypt’s renewable energy transition.
Located in Minya, the project will combine 1.2 GWp of solar generation capacity with a 600 MWh Battery Energy Storage System (BESS). Set to become the largest solar power plant in Egypt and Africa, it will store electricity generated during the day for use during peak demand after sunset, strengthening grid reliability and extending the availability of clean power.
The financing arranged by the European Bank for Reconstruction and Development (EBRD) comprises USD 160 million from its own funds, USD 75 million mobilised from Bank of Jordan, and up to USD 30 million in concessional financing from the Clean Technology Fund. Additional financing is being provided by DEG, FMO and Proparco, reflecting strong international confidence in Egypt’s renewable energy sector and the project’s development partners.