EBRD, Meridiam, Hassan Allam Utilities partner to drive green investments in Egypt

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The European Bank for Reconstruction and Development (EBRD), Meridiam, and Hassan Allam Utilities (HAU) are teaming up to drive green investments in Egypt via raising capital in HAU Energy BV, as per a statement.

HAU Energy is a new platform aimed at investing in renewable energy projects primarily in Egypt, with potential expansion into other African countries.

This collaborative investment venture is set to boost private sector involvement in Egypt's power sector and accelerate the government's efforts to reduce carbon emissions by advancing renewable energy projects, consequently, contributing to the green energy transition.

It marks a significant milestone within Egypt's 10-gigawatt (GW) renewables program, a key component of the EBRD-led energy pillar of the Nexus on Water, Food, and Energy (NWFE) initiative, which was introduced during COP27 in 2022.

All projects under this partnership will adhere to stringent environmental and social standards, drawing upon the extensive experience and expertise of the involved parties in this field.