📋 Tender Overview
Location: Egypt
Project number: 54346
Business sector: Energy
Notice type: Private
Environmental category: IESE
EBRD Finance Summary: USD 75,000,000.00
Total Project Cost: USD 300,000,000.00
Project Description
Provision of an equity investment of up to USD 75 million (EUR 68.5 million) in HAU Energy BV, a funding vehicle ("Company") established by Hassan Allam Utilities ("HAU"). The EBRD investment will raise capital for the development and construction of renewable energy projects in the region, including HAU's most imminent project, namely, the 1.1 GW Gulf of Suez wind farm in Egypt (the "Project").
Project Objectives
The Project will further promote private sector participation in the Egyptian power sector and support the roll-out of renewable energy projects in Egypt and the region to achieve the nationally declared targets.
Transition Impact
ETI score: 72
The Project will target the "Green" quality by taking part in the development of the renewable energy projects, including the largest wind farm of Egypt with a total capacity of 1.1 GW. The Bank's investment in this first project will help reduce CO2e emissions by 2.8 million tCO2 per annum with additional savings expected for the rest of the pipeline.
