Infinity Power, HAU Energy land $566M debt for Africa's largest solar plant
What's the deal? Infinity PowerDealroom has a profile for this one. Try Dealroom → and HAU Energy have secured a debt package of up to $566 million to build the Nefer Minya solar project in Minya, Egypt. The European Bank for Reconstruction and Development (EBRD)Dealroom has a profile for this one. Try Dealroom → led the financing, which the sponsors say will become the largest solar power plant in Egypt and Africa.
The money: EBRD arranged up to $265 million, including $160 million from its own funds, $75 million mobilised from Bank of Jordan, and up to $30 million in concessional financing from the Clean Technology Fund. DEG, FMO, and ProparcoDealroom has a profile for this one. Try Dealroom → supplied the rest; FMO alone committed a $100 million senior loan.
What's being built? Nefer Minya will pair 1.2 GWp of solar generation with a 600 MWh battery energy storage system. The batteries let the plant supply electricity during peak demand hours, a feature still relatively new to Egypt's grid.
Why now? Egypt is shifting from standalone solar toward storage-backed, dispatchable power. By March 2026, nearly 6 GW of signed renewable power purchase agreements had reached financial close, while the government's NWFE programme targets 10 GW of new renewables.
What de-risks it? The project runs under a 25-year power purchase agreement with the Egypt Electricity Transmission Company, fully guaranteed by Egypt's Ministry of Finance. That contracted offtake gives the plant a secured route to market.
The signal: At up to $566 million, this ranks among the largest debt rounds for a deep-tech project in Egypt — above the 98th percentile all-time. The heavy involvement of development-finance institutions shows how such lenders are mobilising capital for storage-backed solar, following comparables like Scatec's $600 million Obelisk project.
Read more: article.wn.com
Image credit: Generated with Gemini
