Energy · 4 views
EBRD-led lenders back 1.2 GW solar, 600 MWh storage plant in Egypt
The European Bank for Reconstruction and Development (EBRD) said it is arranging a loan of up to $265 million for Nefer Menya for Renewable Energy, the special purpose vehicle developing a 1.2 GW solar plant and 600 MWh battery energy…
Summary
The European Bank for Reconstruction and Development (EBRD) said it is arranging a loan of up to $265 million for Nefer Menya for Renewable Energy, the special purpose vehicle developing a 1.2 GW solar plant and 600 MWh battery energy storage system (BESS) in Minya, Egypt. The EBRD loan consists of a $160 million A-loan from the bank’s own funds, a $75 million B-loan from Bank of Jordan and up to $30 million in concessional financing from the Climate Investment Funds’ Clean Technology Fund under its Global Energy Storage Program.
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