Infinity Power and HAU Energy secured up to $566 million in debt for Nefer Minya, a 1.2 GWp solar plant in Egypt paired with a 600 MWh battery. Its power goes to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement.
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Strip away the superlatives and Nefer Minya is a 25-year contract with a state buyer, wrapped around one of the country's first utility-scale batteries.
The battery is meant to store daytime power for peak demand after sunset. That suggests a plant that reaches into the evening peak, not one that runs through the night.
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Nefer Minya, a solar project in Minya, Egypt, now has up to $566 million in debt in place. The plant pairs 1.2 GWp of solar capacity with battery storage rated at 600 MWh. Infinity Power and HAU Energy secured the financing, which they announced on October 20, 2026, and the sponsors expect the plant to become the biggest solar power plant in both Egypt and Africa.
The size claim gets the headlines. The shape of the deal is more useful to developers, EPC contractors and storage suppliers working in Egypt: who lent, what the battery is sized to do, and what stands behind the buyer. Put together, those pieces suggest what lenders currently accept as a bankable solar project in the country.
The European Bank for Reconstruction and Development led the financing, according to Dealroom, and arranged up to $265 million of the package itself. That tranche breaks down into three pieces.
Energy Global; Infinity Power; Dealroom
DEG, FMO and Proparco are providing additional financing alongside the EBRD-arranged portion. Dealroom reports that FMO alone committed a $100 million senior loan. Add that to the EBRD tranche and close to two-thirds of the up-to-$566 million ceiling is accounted for by just two institutions.
The concessional money is a small slice. At up to $30 million, the Clean Technology Fund piece comes to about a twentieth of the total, so the rest of the package is carried by development-bank and bank lending.
For operators planning similar projects in Egypt, the lender list suggests where long-term debt for storage-backed solar could come from. Dealroom reads the heavy development-finance presence the same way, pointing to Scatec's $600 million Obelisk project as a comparable. By its own data, a debt round of up to $566 million sits above the 98th percentile all-time among what it classes as deep-tech projects in Egypt.
The sponsors haven't disclosed tenor, pricing, total project cost or equity, so nobody outside the deal can benchmark the terms against other Egyptian facilities yet.
Infinity Power's announcement says the plant will hold daytime solar output in its battery and release it when demand peaks after sunset. Nayer Fouad, Infinity Power's co-founder and CEO, said the project is paired with a battery system that ranks among the first utility-scale storage installations in the country. Dealroom also describes battery-supplied power at peak hours as still relatively new to Egypt's grid.
GWp is the peak rating of a solar array's panels under standard test conditions. MWh measures stored energy, not the rate at which it is released. The battery's power rating in MW hasn't been published, so the actual discharge duration isn't known.
The storage design gives grid planners a sense of what to expect. A battery sized for evening discharge could shift energy past sundown and ease the evening ramp. That points to Nefer Minya being a solar plant that extends into the evening peak, not a source of firm round-the-clock supply, and buyers who model it as round-the-clock supply could overestimate it.
Dalia Wahba, CEO of Hassan Allam Utilities, framed the pairing the same way in comments carried by TradeArabia, saying the partners are combining large-scale solar with storage "to provide clean power that is available when the grid needs it most." The pitch is timing, not volume.
For storage suppliers and integrators, the numbers still add up to a lot of hardware. Set against the array, 600 MWh works out to 0.5 MWh of storage per MWp of panels, a modest ratio on a very large plant. And because so few comparable systems are running on Egypt's grid, how this one performs once it's operating is likely to become the reference that later Egyptian projects get measured against.
Once running, the sponsors expect the plant to supply enough electricity for more than 1.4 million homes a year and to avoid over 1.5 million tonnes of CO2 annually.
The state-owned Egyptian Electricity Transmission Company will buy the plant's electricity, and the power purchase agreement runs for 25 years. Development lenders size long debt against revenue certainty, and a contract of that length with one buyer provides it.
There is a second layer. Dealroom reports that the PPA is fully guaranteed by Egypt's Ministry of Finance, which it describes as giving the plant a secured route to market. That suggests lenders are underwriting Egypt's sovereign commitment as much as the utility's own payment record, which would help explain how a project this size drew this much long-dated development money.
When comparing Nefer Minya's financing with another Egyptian solar deal, check two things first: the length of the offtake contract and whether the Ministry of Finance guarantees it. On Dealroom's account, this one has 25 years and a full guarantee.
Strip away the superlatives and Nefer Minya is a 25-year contract with a state buyer, wrapped around one of the country's first utility-scale batteries.
National policy matters here too. Wahba said Egypt aims to generate 42% of its electricity from renewables by 2030. She said each megawatt-hour the project produces cuts reliance on imported fuel.
Strip away the superlatives and Nefer Minya is a 25-year contract with a state buyer, wrapped around one of the country's first utility-scale batteries.
Dealroom sees the deal as part of a wider change in Egypt, where the country is shifting away from solar-only plants and toward dispatchable power supported by storage. Signed renewable power purchase agreements totalling nearly 6 GW had reached financial close as of March 2026. The government's NWFE programme aims for 10 GW of new renewables.
For scale, Nefer Minya's 1.2 GWp is equivalent to roughly a fifth of that 6 GW financial-close figure. A single plant of that weight, with storage attached, could shape what lenders and the state buyer expect from the storage-backed projects that follow it.
The same partners have more coming. REGlobal reported that in September 2026, Infinity Power and Hassan Allam Utilities Energy signed a power purchase agreement with the Egyptian Electricity Transmission Company for Ras Shokeir, a wind project that will add 1 GW of generation to the grid. For the sponsors, that suggests a growing share of their Egyptian pipeline could depend on the same state buyer.
Taken together, the two projects put about 2.2 GW of nameplate capacity under contract with the transmission company. Concentration like that cuts both ways: the partners know the buyer and its contract terms well, and they also carry more exposure to a single counterparty.
Both sponsors are building at scale. Infinity Power, a joint venture between Infinity and Masdar that describes itself as Africa's largest pure-play renewable energy provider, reports about 1.3 GW of operating capacity across Egypt, South Africa and Senegal, plus 6.3 GW of wind and solar in development, 3.8 GW of it at an advanced stage, and a target of 10 GW operating by 2032. HAU Energy, the renewables platform set up by Hassan Allam Utilities within Hassan Allam Holding and described in a Zawya report as Netherlands-based, has nearly 3.3 GW under development.
Infinity Power says its existing portfolio avoids over 3 million tonnes of CO2 a year. On the sponsors' own figures, Nefer Minya would add about half that again, and its 1.2 GWp peak rating is close to the company's entire 1.3 GW operating base. Once it is running, that makes it the single biggest step Infinity Power can point to toward its 10 GW target.
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