Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Egypt

Geographic location where the impacts of the investment may be experienced.

Specific Location

West Minya

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Jul 22, 2026

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Nefer Menya for Renewable Energy S.A.E.

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 170.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 764.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 21, 2026

Disclosed by Bank May 8, 2026

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of the provision of senior debt financing of up to USD 170 million in favour of Nefer Menya for Renewable Energy S.A.E. (the "Borrower"), a special purpose vehicle ("SPV") incorporated in Egypt for the purpose of developing, constructing and operating a 1,000 MWac solar photovoltaic ("PV") plant and a 600 MWh Battery Energy Storage System ("BESS") in Minya, Egypt.

The Project will add 1,000 MW of solar capacity and 600 MWh of BESS to the power system of Egypt. The Project will support the Egyptian Government in achieving its renewable energy target and will be among the first batch of BESS projects in the country, developed under the 10 GW renewables target set under the Bank-led Energy Pillar of the NWFE initiative.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Category A (ESP, 2024). The Project involves the construction and operation of a 1,000 MW of solar capacity and 600 MWh of BESS in an area of desert west of the city of Minya. The new 220KV c.36km Overhead Transmission Line which will connect the Project to the existing electricity transmission grid will be developed by the Egyptian Electricity Transmission Company and is considered an associated facility in accordance with the ESP.

The site is located within a desert environment largely characterised by low biodiversity value and limited existing land use, primarily associated with nearby desert agricultural activities. It is located in a remote area, 43km from the nearest village Ezbet Harby and over 100km from the nearest recognized biodiversity protected areas. The area is not considered critical habitat and some PBFs may be present on the site.

Due to the large-scale and short schedule for construction and the significant workforce requirements, approximately 5,000 people, the most significant impacts are anticipated to be with the construction phase. Workforce are anticipated to be recruited from communities and cities in the wider project area and will require transport to the from site. The Project's detailed accommodation requirements are not yet fully defined as they will depend on the proportion of workers living at home, however, the Project intends to employ a mixture of both off-site and on-site accommodation.

Due to larger number of workers, equipment and material needs traffic movements associated with the Project are expected to be significant. The existing roads to the Project area are in some cases unpaved and may require improvements prior to use. Potential for occupational and community health and safety risks is high and a Traffic and Transport Management plan will need to be developed by the contractor, including ESIA mitigation measures and based on seasonal baseline traffic and road surveys.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A senior debt financing of up to USD 170 million.

The Project will be co-financed by other parties.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Nefer Menya for Renewable Energy S.A.E is an SPV established in Egypt for the sole purpose of developing, constructing and operating the Project. The Borrower is 51% owned by Infinity Power Holding ("IPH") and 49% by HAU Energy ("HAUE").

IPH is a joint venture between Masdar (49%) and Infinity Energy S.A.E. (51%), created to develop renewable energy projects in Egypt and the region.

HAU Energy is a company recently established for the purpose of investing in renewable energy projects in Egypt and the region. It is owned by Meridiam, Hassan Allam Utilities ("HAU") and EBRD.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Infinity Energy (Masdar - Egypt)	Parent Company	-
-	-	-	-	Nefer Menya for Renewable Energy S.A.E.	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Guarav Vatyani and Malak Elshishiny
Gaurav@weareinfinitypower.com and malak.elshishiny@hassanallam.com
+971 55 648 6729 +202 2265 9000
www.weareinfinitypower.com www.hassanallam.com
Unit 1601, Level 16, Conrad Business Tower, Sheikh Zayed Rd Dubai, UAE and 5 Anqara, Sheraton Housing, Heliopolis, Cairo, Egypt

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html