The European Bank for Reconstruction and Development (EBRD) is supporting Egypt’s energy transition with a construction bridging loan to HAU Energy for a new renewable project in Benban, near Aswan.
The plant, co‑developed by HAU Energy and Infinity Power, will combine a 200 MW solar photovoltaic (PV) facility with a 120 MWh battery energy storage system (BESS), marking a major step in expanding the country’s utility‑scale renewables and storage capacity.
Once operational, the facility is expected to reduce carbon dioxide emissions by up to 280,000 tonnes per year, helping Egypt move towards a lower‑carbon power system and easing the integration of intermittent solar generation into the national grid. The project underscores the EBRD’s broader push in the region to boost energy security, reduce fossil‑fuel imports and improve resilience to external shocks.
The finance is accompanied by a technical cooperation package under the EBRD’s Gender and Economic Inclusion Technical Cooperation Framework, which will fund two nationally accredited training programmes in “green skills” for young jobseekers and support improvements in gender equality and workforce‑management practices at HAU. The bank aims to increase women’s access to technical and leadership roles in the growing renewables sector.
HAU Energy, formed in 2024 and owned by Meridiam, Hassan Allam Utilities (HAU) and the EBRD, is positioning itself as a key investor in Egypt’s clean‑energy pipeline.
Egypt is a founding member of the EBRD and has attracted substantial investment from the bank across 225 projects since 2012, with an increasing share directed toward renewable energy and related infrastructure.
