Major solar and battery storage projects receive significant financing in Egypt and Romania

Large-scale renewable energy developments are advancing in Egypt and Romania through substantial international financing.

In Egypt, the European Bank for Reconstruction and Development (EBRD) is arranging up to $265 million for a 1.2 GW solar photovoltaic plant in the Minya governorate. Integrated with a 600 MWh battery energy storage system (BESS), the project is expected to become the largest solar plant in Egypt and Africa. The financing involves a combination of EBRD funds, a loan from the Bank of Jordan, and concessional financing from the Climate Investment Funds. The project, owned by a special purpose vehicle of Infinity Power and HAU Energy B.V., aims to improve grid stability and avoid over 1.5 million tonnes of CO2 emissions annually.

In Romania, TDI Renewables has secured €25.5 million from Raiffeisen Bank International to fund the 58 MW Iratoșu solar power plant in Arad county. The project includes plans for a future 88 MWh battery storage system to enhance electricity supply flexibility. Ameresco Sunel Energy has been appointed as the engineering, procurement, and construction contractor for the facility.