HAU Energy and Infinity Power have secured debt financing of up to $566 million for the development of the Nefer Minya solar photovoltaic project in Minya, Egypt. The financing package includes up to $265 million arranged by the European Bank for Reconstruction and Development (EBRD). The EBRD-arranged financing includes $160 million from its own funds, $75 million mobilised from the Bank of Jordan, and up to $30 million in concessional financing from the Clean Technology Fund.
Furthermore, additional funding will be provided by DEG, FMO and Proparco. Moreover, the project will combine 1.2 GWp of solar power capacity with a 600 MWh battery energy storage system (BESS). Once operational, the electricity generated will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement.
Earlier, in September 2026, Infinity Power and Hassan Allam Utilities Energy signed a power purchase agreement with the EETC for the Ras Shokeir wind project. The project, located in Egypt, will add 1 GW of wind generation capacity to the grid.