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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-brief-akaysha-energy-secures-1-2-billion/" target="_blank" rel="noopener"><span style="text-decoration: underline;">Mercom Capital Group</span></a></strong></p>
<p><strong>Australian battery energy storage developer Akaysha Energy has </strong><a href="https://mercomcapital.com/akaysha-energy-secures-1-2-billion-portfolio-financing/" target="_blank" rel="noopener"><strong>refinanced</strong></a><strong> its existing project-level debt through an A$1.75 billion (~$1.2 billion) portfolio-level financing facility</strong> to support its battery storage development pipeline in Australia. The facility refinances existing debt across four battery energy storage projects, Brendale, Orana, Ulinda Park, and Elaine, into a single portfolio financing structure. Akaysha’s Ulinda Park, Brendale, and Orana battery storage projects are operational. The Elaine project in Victoria commenced construction in October 2025 and is scheduled for completion in the second half of 2027.</p>
<p><strong>Infinity Power, a clean energy firm and a joint venture between Infinity and Masdar, and HAU Energy,  a developer of utility-scale projects, have </strong><a href="https://mercomcapital.com/infinity-power-hau-energy-secure-566-million-for-egypt-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a debt financing package of up to $566 million</strong> to develop the 1.2 GW Nefer Minya solar project in Egypt. Located in Minya, the project will include a 600 MWh battery energy storage system and is expected to become the largest solar power plant in Egypt and Africa, according to the companies. The European Bank for Reconstruction and Development has arranged financing of up to $265 million for the project, including $160 million from its own funds, $75 million mobilized from the Bank of Jordan, and up to $30 million in concessional financing from the Clean Technology Fund.</p>
<p><strong>Renewable energy solutions company Fourth Partner Energy (FPEL) has </strong><a href="https://www.mercomindia.com/fourth-partner-energy-secures-%E2%82%B97-5-billion-to-finance-wind-solar-project" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹7.5 billion (~$79.27 million) from Tata Capital – Cleantech Finance (TCCL)</strong> to develop its ongoing solar-plus-wind project in Maharashtra, with an integrated battery energy storage system. The project comprises 300 MW of solar capacity, 50 MW of wind capacity and 750 MWh of battery energy storage. It is expected to generate more than 630 million units of clean power annually for the company’s corporate consumers in Maharashtra. The project is FPEL’s second large-scale BESS offering, after the 500 MWh project the company is executing in Karnataka along with its interstate transmission system project.</p>
<p><strong>Masdar (Abu Dhabi Future Energy Company), a UAE-based renewable energy developer, has </strong><a href="https://mercomcapital.com/masdar-to-acquire-550-mw-solar-project-in-greece/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> an agreement to acquire and develop a solar photovoltaic project of more than 550 MW</strong> in Greece from Lightsource bp. The project is expected to become operational by the end of 2026. According to Masdar, it will generate enough electricity to meet the annual power requirements of more than 200,000 homes. The company also plans to add battery storage to the solar project. The transaction will also include two privately owned substations connecting the project to Greece’s electricity transmission system.</p>
<p><strong>Estonian energy project developer Evecon, through its Lithuanian subsidiary UAB Evecon, has <a href="https://mercomcapital.com/evecon-sells-hybrid-wind-solar-and-storage-project-lithuania/" target="_blank" rel="noopener">sold</a> a ready-to-build hybrid renewable energy project in Lithuania’s Marijampolė region to </strong>renewable energy developer Energix Renewable Energies for €25.4 million (~$28 million). The project includes development rights for an approximately 220 MW wind, a 60 MW solar, and an energy storage facility with a capacity of approximately 286 MWh. The wind, solar, and energy storage facilities are located close together at the same site.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-energyre-secures-815-million" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Akaysha Energy Secures $1.2 Billion


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					</table><p><a href="https://weareinfinitypower.com/home" target="_blank" rel="noopener">Infinity Power</a>, a clean energy firm and a joint venture between Infinity and Masdar, and <a href="https://www.hassanallam.com/subsidiaries/energy" target="_blank" rel="noopener">HAU Energy</a>,  a developer of utility-scale projects, have secured a debt financing package of up to $566 million to develop the 1.2 GW Nefer Minya solar project in Egypt.</p>
<p>Located in Minya, the project, which will include a 600 MWh battery energy storage system, is expected to become the largest solar power plant in Egypt and Africa, according to the companies.</p>
<p>The European Bank for Reconstruction and Development has arranged financing of up to $265 million for the project, including $160 million from its own funds, $75 million mobilized from the Bank of Jordan, and up to $30 million in concessional financing from the Clean Technology Fund.</p>
<p>DEG, FMO, and Proparco provided additional financing for the project.</p>
<p>Once operational, Nefer Minya is expected to generate enough electricity to meet the annual requirements of more than 1.4 million homes and avoid over 1.5 million metric tons of carbon dioxide emissions annually.</p>
<p>Nayer Fouad, Co-Founder and CEO of Infinity Power, commented: “This landmark financing reflects strong confidence in Egypt’s renewable energy sector and Infinity Power’s ability to deliver large-scale clean energy infrastructure. As the largest solar PV project in Egypt and Africa, paired with one of the country’s first utility-scale battery energy storage systems, Nefer Minya will strengthen energy security, enhance grid resilience and support Egypt’s transition to a low-carbon economy. Together with HAU Energy and our financing partners, we are proud to deliver this flagship project as we advance towards our goal of 10 GW of operational renewable energy capacity by 2032 and expand access to affordable, reliable clean energy across Africa.”</p>
<p>The electricity generated by the project will be sold to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement.</p>
<p>Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, <a href="https://mercomcapital.com/product/1h-and-q2-2026-solar-funding-and-ma-report/" target="_blank" rel="noopener">according</a> to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&amp;A report.</p>
<p>In August 2026, renewable energy developer Zelestra <a href="https://mercomcapital.com/zelestra-secures-181-million-financing-for-texas-solar-project/" target="_blank" rel="noopener">closed</a> $181 million in green project financing for its 136 MW Skull Creek solar project in Anderson County, Texas, which is under construction and is expected to begin commercial operations by the end of 2027.</p>


Infinity Power, HAU Energy Secure $566 Million for Egypt Solar Project


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					</table><p><strong>Egypt</strong>-headquartered renewable energy company, <strong>Infinity Power</strong>, is likely to <a href="https://www.zawya.com/en/projects/utilities/egypts-infinity-power-eyes-1bln-solar-battery-project-close-after-ras-ghareb-jtspo331" target="_blank" rel="noopener">secure</a> a 1,200 MW solar power project with battery storage in the country. Of the total capacity, 200 MW will be developed in Benban, Aswan Governorate, while 1,000 MW will be established in the Minya Governorate. The project follows the financial close of the 200 MW Ras Ghareb wind farm, which is co-owned by the <strong>UAE</strong>’s <strong>Masdar</strong>. The new solar-plus-battery story project is expected to require an estimated investment of $1 billion. Infinity Power operates solar energy projects in Egypt, with a cumulative capacity exceeding 250 MW, including four stations within a solar energy complex in Benban.</p>
<p>According to the Ministry of Energy, <strong>Saudi Arabia</strong> <a href="https://www.zawya.com/en/projects/utilities/saudi-arabias-renewable-energy-investments-hit-248bln-iu1pljym" target="_blank" rel="noopener">issued</a> tenders for 64 renewable energy projects totaling 57.5 GW since launching its National Renewable Energy Program in 2017. These projects include 40 solar, nine wind, and 15 energy storage projects. To date, power purchase agreements totaling SAR93 billion (~$24.8 billion) have been signed.  The Ministry added that an energy storage capacity of 30 GWh has been tendered, and 8 GWh has been connected to the grid.</p>
<p>The Arab electricity and renewable energy sector has <a href="https://ognnews.com/ArticleTA/437079" target="_blank" rel="noopener">attracted </a>a total of 360 foreign direct investment projects, valued at more than $351 billion, over the last two decades, according to the <strong>Kuwait</strong>-based <strong>Arab Investment and Export Credit Guarantee Corporation</strong>. <strong>Egypt</strong>, <strong>Morocco</strong>, <strong>the UAE</strong>, <strong>Mauritania</strong>, and <strong>Jordan</strong> accounted for approximately 69% of the projects (248 projects), around 83% of the capital expenditure ($291 billion), and 82% of the new jobs (approximately 68,000 jobs). The UAE led the list as the region&#8217;s top investor in renewable energy over 22 years, with 57 projects (16%) valued at over $88.5 billion, accounting for 25% of total investments. <strong>Saudi Arabia</strong>&#8216;s <strong>ACWA Power</strong> topped the list in the number of projects with 20, accounting for around 6% of foreign projects in renewable energy. At the same time, the UAE&#8217;s <strong>Infinity Power</strong> ranked as the largest investor in the sector based on capital expenditure, with a value of $34 billion, or 10% of the total investments.</p>


MENA Weekly Round-Up: Infinity to Develop 1.2 GW Solar-Storage Project in Egypt

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