The European Bank for Reconstruction and Development (EBRD) has extended a USD 65 million construction bridging loan to HAU Energy for the development of a 200 MW solar power plant with a 120 MWh battery energy storage system in Benban, near Aswan, Egypt.
The total project cost is estimated at USD 180 million. In addition to the loan, the bank will provide technical cooperation support for green skills training programmes for young jobseekers and measures to strengthen the company’s human resources practices.