Infinity Power and HAU Energy have secured debt financing of up to $566 million for a solar and battery development in Minya, Egypt.

Solar generation with storage

The planned Nefer Minya facility combines 1.2 GWp of photovoltaic capacity with a 600 MWh battery system. Storage is intended to shift surplus daytime electricity into evening demand periods.

Long-term financing and power sales

The package includes up to $265 million arranged by the European Bank for Reconstruction and Development. Its contribution comprises $160 million of its own funds, $75 million mobilized from Bank of Jordan and up to $30 million from the Clean Technology Fund. DEG, FMO and Proparco are also providing financing. Electricity will be supplied to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement.