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United Arab Emirates EBRD and HAU Energy support new solar and battery project in Egypt’s Benban
The European Bank for Reconstruction and Development (EBRD) is strengthening Egypt’s green energy transition with a US$ 65 million construction bridging loan to HAU Energy for the development of a new renewable energy project in Benban, near Aswan. The project is being co-developed by HAU Energy and Infinity Power. The financing will support the construction and installation of a 200 MW solar photovoltaic (PV) plant and a 120 MWh battery energy storage system (BESS), an important milestone in expanding Egypt’s renewable energy and battery storage capacity, helping the country accelerate its shift to a low carbon economy.
Once operational, the new facility is expected to reduce CO₂ emissions by up to 280,000 tonnes annually, making a significant contribution to Egypt’s climate goals and strengthening the integration of intermittent solar power into the national grid. The financing will be complemented by a comprehensive technical cooperation package provided through the EBRD’s Gender and Economic Inclusion Technical Cooperation Framework, which will support the design and implementation of two nationally accredited technical training programmes focused on green skills for young jobseekers. The programmes will help equip youth with the practical expertise required for employment in Egypt’s expanding renewable energy sector.
The technical cooperation will also help to strengthen HAU’s human resources practices, embedding gender equality principles in workforce management through a tailored training programme to enhance women’s access to technical and leadership roles. HAU Energy was established in 2024 to invest in renewable energy projects in Egypt. The company is owned by Meridiam, Hassan Allam Utilities (HAU) and the EBRD.
Countries covered:
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Egypt
