EBRD to invest $75mln in Hassan Allam Utilities’ green projects

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The project aims to support the private sector participation in the Egyptian power sector

Staff Writer, Arab Finance

January 22, 2024

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Arab Finance: The European Bank for Reconstruction and Development (EBRD) will provide an equity investment of up to $75 million to HAU Energy BV, the funding arm of Hassan Allam Utilities (HAU), as per a statement by the bank.

The investment is set to raise capital for the development and construction of renewable energy projects in the region, including HAU’s 1.1-gigawatt (GW) Gulf of Suez wind farm project in Egypt.

The project aims to support the private sector participation in the Egyptian power sector and boost the roll-out of renewable energy projects in Egypt and the region.

The EBRD’s investment in the project will help in cutting carbon emissions by 2.8 million tons of carbon dioxide annually.

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