Egypt : EBRD Approves $75 Million Investment In HAU Energy For Renewable Projects

The European Bank for Reconstruction and Development (EBRD) has approved an equity investment of up to USD 75 million (EUR 68.5 million) in HAU Energy BV, a funding vehicle established by Hassan Allam Utilities (HAU). The investment aims to fund the development and construction of renewable energy projects in Egypt, notably the 1.1 GW Gulf of Suez wind farm. The project aligns with Egypt’s commitment to achieving renewable energy targets and promoting private sector participation in the power sector.