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.
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.