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Infinity Power and HAU Energy secure up to $566 million for 1.2 GW Egypt solar plus storage

Debt financing for Nefer Minya pairs a 1.2 GWp solar plant with 600 MWh of battery storage in Minya, Egypt. The EBRD, which is arranging up to $265 million, says it will be the largest solar plant in Egypt and Africa.

By Greener Numbers Editorial Team · Published October 21, 2026 · Updated 10/21/2026

Infinity Power and HAU Energy have secured up to $566 million (about AED 2.08 billion) in debt financing for Nefer Minya, a 1.2 GWp solar plant with a 600 MWh battery storage system in Minya, Egypt, the companies said.

The European Bank for Reconstruction and Development is arranging up to $265 million of the total: a $160 million A-loan from its own funds, a $75 million B-loan mobilised from Bank of Jordan, and up to $30 million of concessional money from the Clean Technology Fund. DEG, FMO and Proparco are providing additional financing within the package; their shares were not disclosed.

The EBRD says the project is set to become the largest solar plant in Egypt and Africa. In July, the Emerging Africa and Asia Infrastructure Fund approved a $30 million loan to Hassan Allam Utilities for the project, then described as 1 GW of solar with 660 MWh of storage.

Financing for a project of this size in a single African market is still rare, and the storage component is notable: pairing 600 MWh of batteries with the plant lets it deliver power after sunset, which is where solar-only projects lose value to the grid.

The figures come from the companies and the lenders; construction and completion timelines were not given in the announcement.

Official source: utilities-me.com ↗