Egyptian solar-plus-storage project reaches financial close with $566 million package
HAU Energy and Infinity Power have obtained as much as $566 million in debt for the Nefer Minya solar photovoltaic project in Minya, Egypt. The financing includes up to $265 million arranged by the European Bank for Reconstruction and Development, with contributions from the Bank of Jordan, the Clean Technology Fund, DEG, FMO and Proparco. The project will pair 1.2 GWp of solar capacity with a 600 MWh battery storage system and sell electricity to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement.
The Nefer Minya project in Minya, Egypt, has locked in debt of as much as $566 million. EBRD arranged up to $265 million of that sum, combining $160 million of its own funds, $75 million from the Bank of Jordan, and up to $30 million in concessional support from the Clean Technology Fund. DEG, FMO, and Proparco are also providing additional funding.
The development pairs 1.2 GWp of solar generation with a 600 MWh battery system. Its output is committed to the Egyptian Electricity Transmission Company through a 25-year purchase agreement. Separately, Infinity Power and Hassan Allam Utilities Energy had signed an EETC agreement in September 2026 for the 1 GW Ras Shokeir wind project.
The project could affect Egyptian electricity users by adding solar capacity and storage that may help grid reliability, especially as demand rises. Local workers and businesses near Minya may see construction and maintenance opportunities, though the scale and duration are uncertain. Because output is sold under a long-term agreement, the arrangement may shape future electricity costs and investor confidence in Egypt’s renewable sector.