📋 Tender Overview
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Project scale and financing structure
EBRD said the Nefer Menya facility will use an aggregate debt financing package of up to US566 million, co-financed by German development finance institution DEG, the Dutch Entrepreneurial Development Bank (FMO) and Frances Proparco alongside the EBRD and the Bank of Jordan. The EBRD loan comprises three components: US160 million from EBRDs own funds, US75 million from the Bank of Jordan as a B-loan, and up to US30 million in concessional financing from the CTF.
The construction and operations investment will support a long-term power arrangement with Egypts electricity grid through a 25-year power purchase agreement with the Egyptian Electricity Transmission Company.
How battery storage supports grid resilience
The solar plant is designed to be coupled with utility-scale battery storage. EBRD stated that the 600 MWh BESS will store electricity produced by the solar facility and release it during evening and peak demand periods, supporting grid stability and reliability.
The bank also said the project is expected to avoid more than 1.5 million tonnes of carbon dioxide (CO2) emissions each year and to supply power for more than 1.4 million homes.
Clean energy under Egypts water, food and energy strategy
EBRD said the investment supports the bank-led Energy Pillar of Egypts flagship Nexus of Water, Food and Energy initiative, launched at COP27. According to EBRD, the initiative aims to facilitate 10 GW of new private-sector renewable energy capacity while cutting 5 GW of inefficient fossil-fuel capacity.
Skills, gender and employment support linked to the CTF funding
In addition to the concessional loan, EBRD said the CTF will provide technical cooperation funding. The support will fund two nationally accredited technical training programmes focused on green skills for young people entering the labour market in Minya governorate.
EBRD also reported that the CTF financing will help Hassan Allam Utilities strengthen its human resources policies and practices, embed gender equality into workforce management strategy, and enhance womens access to technical and leadership roles in the energy sector, which has traditionally been male-dominated.
Who is involved
EBRD said Nefer Menya is owned by Infinity Power and HAU Energy B.V. Infinity Power is described by the bank as Africas largest pure-play renewable energy provider and a joint venture established in 2019 by Infinity and Masdar. EBRD holds an equity stake in Infinity Power.
HAU Energy B.V. was established in 2024 to develop renewable energy projects in Egypt and is owned by Meridiam, Hassan Allam Utilities and the EBRD.
EBRDs project announcement was made on 20 October 2026.
Stakeholder perspectives
In comments shared with the announcement, Aida Sitdikova, EBRD Director of Sustainable Infrastructure in the Middle East and Africa, said the bank is proud to lead financing for what EBRD described as the largest solar PV and battery storage project in Egypt and Africa. She said combining solar generation with utility-scale battery storage will strengthen Egypts energy security and enhance grid resilience.
EBRD also quoted Samer Mirai, Regional Head of Corporate Banking and Syndications of the Bank of Jordan, describing the partnership as aligned with the banks sustainability and green finance strategy. He said the banks involvement as a B-loan lender and hedging counterparty reflects its participation in financing strategic large-scale sustainable infrastructure.
Infinity Powers co-founder and CEO, Nayer Fouad, said the projects financing reflects confidence in Egypts renewable energy sector and in Infinity Powers ability to deliver large-scale clean energy infrastructure. He stated that the project will strengthen energy security and enhance grid resilience, supporting Egypts transition to a low-carbon economy.
Key Details
Initiative/programme: Construction and operation of a 1.2 GW solar PV plant with 600 MWh battery energy storage system (BESS)
Lead organization: European Bank for Reconstruction and Development (EBRD)
Lead project vehicle: Nefer Menya for Renewable Energy S.A.E. (owned by Infinity Power and HAU Energy)
Partners (financing/co-financing): Bank of Jordan; DEG; FMO; Proparco; Climate Investment Funds Clean Technology Fund (CTF) (concessional support)
Funding amount: Up to US265 million (US160m EBRD A-loan, US75m Bank of Jordan B-loan, up to US30m CTF concessional financing)
Additional financing context: Aggregate debt financing package up to US566 million
Geographic focus: Minya governorate, Egypt
Target groups: Young labour-market entrants in Minya (through green-skills technical training); women seeking technical and leadership roles in energy sector (via workforce and HR support)
Power offtake arrangement: Electricity sold to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement
Expected outcomes (as stated): Avoid more than 1.5 million tonnes of CO2 per year; power more than 1.4 million homes; improve grid stability and reliability after sunset using stored solar power
Timeline: Announcement dated 20 Oct 2026 (project construction/operation timeline not specified in the provided text)
Why This Matters
For NGO leaders, grantmakers, and development practitioners, the EBRD announcement illustrates how large-scale clean energy finance is increasingly paired with practical workforce and inclusion components. The described CTF technical cooperation--nationally accredited green-skill training in Minya and support for gender equality within workforce management--signals attention to skills pipelines and barriers women face in traditionally male-dominated energy roles.
The transaction also offers a reference point for civil society and researchers tracking the localization of energy transition benefits. By linking utility-scale solar deployment with battery storage and long-term grid arr
