The EBRD has arranged a loan of up to USD265m for the Nefer Menya project, a 1.2 GW solar PV plant with 600 MWh of BESS in Minya governorate, Egypt (EBRD press release, 20/10/2026). The loan is part of an aggregate debt package of up to USD566m awarded to Nefer Menya for Renewable Energy, the special-purpose vehicle of Infinity Power and HAU Energy.
The EBRD financing comprises a loan of USD160m from EBRD own funds, a USD75m loan mobilised from Bank of Jordan, and a concessional financing of up to USD30m from the Clean Technology Fund (CTF), under its Global Energy Storage Program. DEG, FMO and Proparco are co-financiers in the debt package, although their amounts were not disclosed.
The electricity will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement (PPA). The battery system is intended to shift daytime solar output to peak demand after sunset. Once operational, the project is expected to generate enough electricity to power more than 1.4 million homes annually and avoid the emission of over 1.5 MtCO2/year.
Infinity Power is a joint venture established in 2019 by Infinity and Masdar, while HAU Energy was established in 2024 by Meridiam, Hassan Allam Utilities and the EBRD. The EBRD also holds an equity stake in Infinity Power.
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