The Nefer Benban Solar and BESS (Battery Energy Storage System) project in Egypt, developed by Infinity Power, secures US$127 million in financing to advance construction. The project is being developed by Nefer Benban for Renewable Energy, a special-purpose company owned by Infinity Power and HAU Energy and is designed to strengthen Egypt’s renewable electricity capacity and grid reliability. Meanwhile, Egypt’s Obelisk solar and battery project has begun operations, marking further progress in the country’s renewable energy expansion.
The financing package includes a US$65 million construction bridge loan from the European Bank for Reconstruction and Development (EBRD). Meanwhile, Germany’s development finance institution, DEG, will provide an equal amount. Together, the funding will support a 200MW solar plant and a 120MWh battery energy storage system (BESS) at Benban Solar Park near Aswan. Additionally, the EBRD identifies HAU Energy as the borrower, while Nefer Benban is the project company.
The solar-storage development will combine daytime solar generation with battery storage that can release electricity during evening peak-demand periods. Therefore, the project is intended to help manage fluctuations in renewable generation and improve the reliability of electricity supplied to the national grid. The electricity will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement.
Project Scope and Technical Specifications
The project will use solar PV panels to generate electricity. Meanwhile, the 120MWh battery system will store excess daytime output. It will then release the stored electricity when demand rises or solar generation declines.
Project disclosures list the solar plant’s installed capacity at approximately 200MW. However, the EBRD’s November 2026 announcement specifies a 258.5MWp photovoltaic (PV) array. Additionally, the project is among Egypt’s early utility-scale developments combining solar generation with battery storage.
The facility will store surplus daytime electricity and release it after sunset. Consequently, it will extend the availability of solar power beyond daylight hours. It is also expected to reduce fluctuations in renewable electricity supply.
The project is located within the wider Benban Solar Park, one of Egypt’s major renewable energy hubs. Furthermore, the established site provides an opportunity to expand solar generation and integrate additional flexibility into the electricity grid.
Financing Structure and Project Partners
The US$127 million financing package comprises a US$65 million construction bridge loan from the EBRD and an equal contribution from DEG. Additionally, the funding will cover eligible development and construction costs. These include engineering, procurement, installation, testing and commissioning. However, the package represents construction debt financing, not the project’s total capital cost.
The project has also secured a separate EBRD financing commitment of up to US$63.5 million for Nefer Benban for Renewable Energy. This comprises up to US$56 million from the bank’s own resources and US$7.5 million from the Clean Technology Fund. Additionally, the package supports the combined solar and storage development. However, the two financing arrangements represent separate facilities and should be reported separately when outlining the project’s total funding.
Infinity Power is a joint venture between Infinity and Masdar. It focuses on developing renewable energy projects across Africa. Meanwhile, HAU Energy is an investment platform established to develop renewable energy projects in Egypt. It is associated with Hassan Allam Utilities, Meridiam and the EBRD. Additionally, Nefer Benban for Renewable Energy serves as the project-specific company for the Benban development.
Construction Status and Expected Impact
The financing is intended to support construction and commissioning activities of the Nefer Benban Solar Project. However, the financing announcement alone does not establish that the facility has completed construction or entered commercial operation. The EBRD’s project information describes the development as an implementation-stage investment, while its latest announcement confirms the planned solar and battery configuration.
Once operational, the facility will supply electricity under a long-term power purchase agreement with EETC. Additionally, the battery system will release stored solar power during peak demand after sunset. Consequently, it will help the grid accommodate a greater share of variable renewable energy.
The Nefer Benban Solar Project also supports Egypt’s energy transition goals. These include expanding private-sector renewable energy capacity and reducing reliance on fossil-fuel generation. However, its long-term contribution will depend on timely construction, successful commissioning and grid integration. Furthermore, its impact will depend on the facility’s operational performance.
Nefer Benban Solar Project Fact Sheet
Project name: Nefer Benban Solar-Storage Project
Location: Benban, near Aswan, Egypt
Project sponsors: Infinity Power and HAU Energy
Project company: Nefer Benban for Renewable Energy
Solar PV capacity: 258.5MWp
Battery energy storage capacity: 120MWh
Construction financing: Up to US$127 million
Financing partners: EBRD and DEG
Additional EBRD financing: Up to US$63.5 million under a separate package
Electricity purchaser: Egyptian Electricity Transmission Company (EETC)
Power purchase agreement: 25 years
Primary purpose: Renewable electricity generation, energy storage and grid reliability
Latest status: Financing and implementation
Nefer Benban Solar Project team
Developer: Infinity Power
Co-Developer / Equity Partner: Hassan Allam Utilities
Project Company / Special Purpose Vehicle: Nefer Benban for Renewable Energy SAE
Battery Energy Storage System (BESS) Technology Provider: Envision Energy (confirm project-specific supply role before naming it as an appointed contractor)
Financing Institution: European Bank for Reconstruction and Development (EBRD)
Additional Financing Partner: DEG – Deutsche Investitions- und Entwicklungsgesellschaft
Offtaker: Egyptian Electricity Transmission Company (EETC)
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