The European Commission has announced two renewable energy projects in Egypt with a combined value of approximately €124.3 million. Around €34.3 million will support the Sokhna green ammonia project, aimed at advancing green hydrogen development and related renewable energy deployment. Additionally, about €90 million will be allocated to the Egypt Grid Modernisation and Expansion programme.
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Lyra Energy has signed power purchase agreements (PPAs) with three unnamed commercial and industrial customers for a significant share of the power generated from the Thakadu solar project in South Africa. The 255 MW project will be developed in two phases, with financial close and construction of the first phase expected in the first quarter of 2026. The second phase of the project is scheduled within 2026 as well
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TAQA Morocco and Moeve have signed a preliminary land reservation agreement with the Government of the Kingdom of Morocco under the country’s Green Hydrogen Offer. The two companies were selected in 2025 as a consortium to develop a large-scale project focused on producing green ammonia and industrial fuel in the southern regions of Morocco. The agreement signing will enable the commencement of feasibility studies.
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SolarAfrica has achieved financial close of R 1.5 billion for the development of SunCentral 2, a 114 MW solar plant in the Northern Cape. The funding has been arranged through RMB and Investec Bank Limited. The project is scheduled to begin supplying power in 2026. SunCentral 2 follows SunCentral 1, which also has a capacity of 114 MW and reached financial close at the end of 2024.
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The state-owned power utility, Saudi Electricity Company (SEC), has completed the grid connection of a 7.8 GWh battery energy storage system (BESS) project across three sites in south-western Saudi Arabia. These projects comprise three BESS installations of 2.6 GWh each, located in Najran, Khamis Mushait, and Madaya. The BESS project is owned by SEC, with its subsidiary National Grid SA acting as the offtaker.
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Masdar and ENGIE have achieved financial close for the 1.5 GWac Khazna solar project in Abu Dhabi. The financing package has been secured from seven regional and international lenders, including Abu Dhabi Islamic Bank, Crédit Agricole Corporate and Investment Bank, KfW IPEX, BNP Paribas, Hong Kong and Shanghai Banking Corporation, Sumitomo Mitsui Trust Bank, and Emirates Development Bank.
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Masdar, together with Al Khadra Partners, Korea Midland Power Co. Ltd, and OQ Alternative Energy, has achieved financial close for the Ibri III solar independent power project. Financing has been secured from Natixis Corporate and Investment Banking and First Abu Dhabi Bank, covering a substantial portion of the project’s total cost of around $300 million. The project is being developed for Nama Power and Water Procurement.
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Nextpower and Abunayyan Holding have completed the incorporation of their joint venture (JV), Nextpower Arabia, headquartered in Riyadh, Saudi Arabia. The JV has been established to support the deployment of utility-scale solar projects across the Middle East and North Africa region. Additionally, the partners have announced a new advanced manufacturing facility in Jeddah that will be operational in the second quarter of 2026.
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Masdar has entered into a power purchase agreement (PPA) for a 150 MW solar project in Angola. The agreement secures long-term electricity offtake for the Quipungo solar project, which is located in Huila province in southern Angola. The PPA was signed with the Rede Nacional de Transporte de Electricidade (RNT-EP), the state owned electricity-transmission company.
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Israel’s Finance Ministry has announced that a new solar plant integrated with the battery energy storage system (BESS) will be developed at the Ashalim power station in southern Israel. The project is designed to deliver up to 80 MW of electricity to the national grid. It will include solar photovoltaic installations with a total capacity of 150 MW. Additionally, the project will incorporate a 400 MWh BESS.
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The European Bank for Reconstruction and Development (EBRD) has provided financing of about $200 million to Enerjisa Enerji Üretim A.Ş. to support the addition of 250 MW of new wind projects in Muğla, Türkiye. The 250 MW wind projects form a part of the broader 1,000 MW wind project portfolio being implemented by Enerjisa Enerji Üretim across the country. The projects are expected to produce around 630 GWh of electricity annually.
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SDG Namibia One Fund has entered into a development funding agreement with Zhero Europe to advance the Zhero Molecules Walvis Bay project, an industrial-scale green ammonia facility planned near Walvis Bay in Namibia’s Erongo region. The fund has committed up to $5.15 million to support development and feasibility activities required to move the project towards a final investment decision targeted for 2027.
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The International Finance Corporation (IFC) has announced a partnership with AMEA Power and Kyuden International Corporation of Japan to develop a large-scale solar and battery energy storage system project in Egypt. The collaboration will support the construction of the Abydos II project through Abydos For Renewable Energy. The project will be located in Aswan Governorate in southern Egypt.
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Egypt has commenced construction of the ATUM Solar integrated industrial complex in Sokhna, with total investments of approximately $210 million. The project is being developed within a 200,000 square metre site at TEDA Egypt, located in the Suez Canal Economic Zone. The complex is a joint initiative involving JA Solar from China, AH from Egypt, Global South Utilities from the UAE, and Infinity Capital from Bahrain.
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AMEA Power has commissioned a 120 MWp solar project in the Kairouan Governorate of Tunisia. The project was financed with support from the International Finance Corporation, part of the World Bank Group, along with the African Development Bank. It is expected to produce about 222 GWh of electricity annually. Moreover, the project is estimated to reduce carbon emissions by around 117,000 tonnes annually.
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ACWA Power and Bapco Energies have entered into a joint development agreement to collaborate on the development of a solar project integrated with a battery energy storage system in Saudi Arabia’s Eastern Province. The arrangement outlines cooperation between the two companies to jointly develop the project through multiple phases, with the planned generation capacity expected to reach up to 2.8 GW.
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Scatec ASA has commenced commercial operations of the 273 MW Grootfontein solar project in South Africa. The project, located in the Western Cape, will supply electricity under a 20-year power purchase agreement (PPA). It is expected to produce 700 GWh of electricity annually. The project is anticipated to offset around 630,000 tonnes of carbon emissions annually.
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ACWA Power, together with Water and Electricity Holding Company (Badeel), a wholly owned company of PIF, and Saudi Aramco Power Company (SAPCO), has completed the financing process for seven large-scale renewable energy projects in Saudi Arabia. The projects will be jointly owned by ACWA Power, Badeel, and SAPCO, with the Saudi Power Procurement Company serving as the procurer as well as the offtaker.
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ACCIONA Energía has finalised an agreement with Exxaro Resources Limited’s wholly owned subsidiary, Cennergi, to divest its 232 MW stake in two renewable assets. The transaction is valued at €255 million. The two projects include the 138 MW Gouda wind farm and 94 MWp Sishen solar plant. ACCIONA Energía owned 55 per cent shares in both the projects through ACCIONA Energía Internacional.
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Mauritania has entered into a framework agreement with Möhring Energie Holding GmbH for the development of a large industrial plant aimed at producing green hydrogen and green ammonia. The agreement supports the implementation of Mauritania’s hydrogen programme known as the Hydrogen Code and initiates the NAYRAH project, which is planned to scale up to an electrolysis capacity of 1,000 MW.
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