The European Bank for Reconstruction and Development (EBRD) will provide project financing for large-scale solar and storage projects in Egypt and Hungary, for project owners HAU Energy/Infinity Power and Renalfa respectively.
The World Bank’s International Finance Corporation has agreed a financing package for a 1GW solar PV power plant paired with 600MWh of energy storage in Egypt. Â
Two major Middle East and North Africa (MENA) region projects combining solar PV and battery storage have progressed in Saudi Arabia and Egypt through ACWA Power and Scatec, respectively.