Infinity Power, HAU Energy secure $566m for Egypt’s 1.2 GW solar project

Infinity Power and HAU Energy have secured a debt financing package of up to $566 million to develop the Nefer Minya Solar PV Project in Minya, Egypt. The financing includes up to $265 million from the European Bank for Reconstruction and Development, comprising $160 million from its own funds, $75 million from the Bank of Jordan, and up to $30 million from the Clean Technology Fund. The 1.2 GWp solar project will be paired with a 600 MWh battery energy storage system, making it the largest solar power plant in Egypt and Africa. Once operational, the facility is expected to supply more than 1.4 million homes annually while avoiding over 1.5 million tonnes of carbon dioxide emissions each year.