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.


Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (