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Financing Advances for 1.2GW Egypt Solar Power and Battery Storage Project

By Shem Oirere

Photo courtesy Hassan Allam Utilities

Egypt's government has set ambitious clean energy goals for the country that are currently driving a massive buildout of renewable power generation.

November 9, 2026

A planned 1.2-GW solar power plant project with a 600-Mwh battery energy storage system in Egypt passed a major financing milestone last month, securing a debt financing package of up to $566 million.

The financing for the Nefer Minya Solar PV Project includes $265 million arranged by the European Bank for Reconstruction and Development (EBRD) for the project's developer Nefer Menya for Renewable Energy S.A.E., a special purpose vehicle owned by Africa's largest renewable energy provider, Infinity Power, and Hassan Allam Utilities (HAU) Energy B.V., a funding vehicle incorporated in the Netherlands for developing and operating renewable energy projects in Egypt and…