EAAIF provides $30M loan to Hassan Allam Utilities for 1 GW Minya solar and battery storage project
Type: Financing · Technology: Solar · Country: Egypt · Value: $30M · Announced: 2026-07-09
Emerging Africa & Asia Infrastructure Fund provided a USD 30 million loan to Hassan Allam Utilities for the 1,000 MW Minya solar project and a 660 MWh battery storage system in Egypt. The solar plant, slated to be built in Minya Governorate, will generate up to 1 GW of renewable electricity, while the battery storage will enable grid stability. The financing aligns with Egypt’s target of achieving 42 % renewable generation by 2030 and supports the country’s broader energy transition. The loan strengthens Hassan Allam Utilities’ portfolio of large‑scale renewable assets and demonstrates the fund’s focus on emerging market infrastructure. No additional terms or advisory parties were disclosed in the announcement.
Counterparties
- Emerging Africa & Asia Infrastructure Fund (Lender)
- Hassan Allam Utilities (Borrower)