Sunshine for 300,000 Egyptian homes: a 500-megawatt solar plant wins $63 million to get built

In Nagaa Hammadi in southern Egypt, a new solar plant is taking shape that will pair 500 megawatts of panels with battery storage. The European Bank for Reconstruction and Development is providing US$63 million (about €54.7 million) in financing, alongside the African Development Bank and the European Investment Bank. The plant is expected to generate about 1.47 terawatt-hours a year — enough for more than 300,000 households — supply clean power to one of Egypt's largest aluminium producers under a 25-year agreement, and cut carbon dioxide emissions by nearly 732,000 tonnes a year.

SDG 7 · Affordable and clean energy — Mechanism: infrastructure build