- EBRD provides a $65 million loan to support a 200MW solar and storage project in Egypt, strengthening clean energy supply and grid reliability.
- The project combines solar PV with battery storage and skills development, reducing emissions while creating jobs and promoting inclusive growth.
The European Bank for Reconstruction and Development (EBRD) has provided a $65 million construction bridge loan to HAU Energy. The plan is to develop a new renewable energy project in Benban, one of Egypt’s key solar hubs.
The project will deliver a 200MW solar photovoltaic plant alongside a 120MWh battery energy storage system. This integrated system will store excess solar energy and supply power when sunlight is unavailable. As a result, the facility will improve reliability and support greater integration of renewable energy into the national grid.
Once operational, the project will cut carbon emissions by up to 280,000 tonnes annually. It will also strengthen Egypt’s clean energy infrastructure and reduce reliance on fossil fuels. This will support the country’s transition to a low-carbon economy.
In addition, the EBRD will provide technical support through its Gender and Economic Inclusion framework. This support will fund nationally accredited training programmes that equip young people with practical green skills for jobs in the renewable energy sector. It will also promote gender inclusion by increasing women’s participation in technical and leadership roles.
HAU Energy, established in 2024, is jointly owned by Meridiam, Hassan Allam Utilities, and the EBRD. The partnership combines international and local expertise to deliver large-scale clean energy projects.
According to Aida Sitdikova, the project strengthens Egypt’s energy security by expanding affordable clean energy and storage solutions. Similarly, Dalia Wahba noted that combining solar power with battery storage will improve grid stability and enable higher renewable energy penetration.
Since 2012, the EBRD has committed over €14.6 billion across 225 projects in Egypt, supporting development in energy, infrastructure, and private enterprise.