EBRD and HAU Energy support new solar and battery project in Egypt’s Benban
The European Bank for Reconstruction and Development (EBRD) is strengthening Egypt’s green energy transition with a US$ 65 million construction bridging loan to HAU Energy for the development of a new renewable energy project in Benban, near Aswan.
The financing will support the construction and installation of a 200 MW solar photovoltaic (PV) plant and a 120 MWh battery energy storage system (BESS), an important milestone in expanding Egypt’s renewable energy and battery storage capacity, helping the country accelerate its shift to a low carbon economy.
Once operational, the new facility is expected to reduce CO₂ emissions by up to 280,000 tonnes annually, making a significant contribution to Egypt’s climate goals and strengthening the integration of intermittent solar power into the national grid.
The financing will be complemented by a comprehensive technical cooperation package provided through the EBRD’s Gender and Economic Inclusion Technical Cooperation Framework, which will support the design and implementation of two nationally accredited technical training programmes focused on green skills for young jobseekers. The programmes will help equip youth with the practical expertise required for employment in Egypt’s expanding renewable energy sector.
The technical cooperation will also help to strengthen HAU’s human resources practices, embedding gender equality principles in workforce management through a tailored training programme to enhance women’s access to technical and leadership roles.
HAU Energy was established in 2024 to invest in renewable energy projects in Egypt. The company is owned by Meridiam, Hassan Allam Utilities (HAU) and the EBRD.
Aida Sitdikova, Director of Sustainable Infrastructure for the EBRD in the Middle East and Africa, said: “In the current regional context, this project underscores the EBRD’s commitment to strengthening Egypt’s energy security by advancing affordable, clean energy and storage solutions. As the country seeks to diversify its energy mix, reduce reliance on imported fuels and enhance resilience to external shocks, we are extending our partnership with Meridiam and HAU, whose commitment to high standards are instrumental in delivering projects of such impact.”
Dalia Wahba, CEO of Hassan Allam Utilities, said: “This project marks a significant step in advancing Egypt’s renewable energy capacity through the integration of utility-scale solar and battery storage, enhancing grid stability and enabling greater reliance on clean energy. It also reflects the strength of our ongoing collaboration with the EBRD in delivering impactful, future-ready energy solutions.”
Egypt is a founding member of the EBRD. Since 2012, the Bank has invested more than €14.6 billion in 225 projects across the country.
Other News
Kazakhstan announces just energy transition investment platform
23.04.2026.16:59
Kazakhstan has today, at the Regional Ecological Summit 2026 in Astana, announced its just energy transition investment platform (QaJET), as part of its climate, economic resilience and development goals.
QaJET reflects the country’s ambition to advance clean energy transition by deploying 10 GW of new renewable capacity by 2035. This will entail around US$ 20 billion (€17.4 billion) of investment from a range of private and state sources, and will lead to the reduction of greenhouse gas (GHG) emissions by more than 20 million tonnes a year. This represents approximately 7 per cent of the country’s energy-related GHG emissions.
A memorandum of understanding (MoU) was signed by Kazakhstan’s Minister of Energy Yerlan Akkenzhenov, Minister of Ecology and Natural Resources Yerlan Nyssanbayev, and EBRD Managing Director, Central Asia and Mongolia, Hüseyin Özhan. The MoU establishes the foundation for cooperation with international financial institutions, donors, philanthropic organisations and private investors supporting QaJET’s implementation.
This is a significant milestone for Kazakhstan, which has a carbon-intensive heavy industry and relies significantly on coal for electricity generation. At the request of the government of Kazakhstan, the EBRD has been helping the ministries to develop the concept of QaJET and will continue to lead the coordination of its implementation with national and international partners.
QaJET reinforces Kazakhstan’s existing commitment to achieving carbon neutrality by 2060 and, as set out in its Nationally Determined Contribution, to reducing its net GHG emissions by up to 25 per cent by 2030 compared to 1990 levels.
In addition, the QaJET platform will contribute to greater energy security for the country, improve economic competitiveness and resilience, and stimulate the local production of technologically advanced renewable energy components and related services.
Areas of cooperation under QaJET will include:
The EBRD will draw on lessons learned from previous EBRD-supported country platforms, such as Egypt’s Nexus for Water, Food and Energy (NWFE) – Energy Pillar, the North Macedonia Just Energy Transition Investment Platform (JETIP), and the Türkiye Industrial Decarbonisation Investment Platform (TIDIP).
The EBRD has invested almost US$ 12 billion (€10.2 billion) in Kazakhstan to date through 345 projects, making the country the largest and longest‑running recipient of EBRD investment in Central Asia.
