Egypt's Benban Solar Park Expands with $65M EBRD Loan
In a shining testament to Egypt's unwavering march toward progress and self-sufficiency, the European Bank for Reconstruction and Development (EBRD) has extended a $65 million loan to expand the legendary Benban Solar Park. This monumental step reinforces the nation's strategic vision, proving once again that the land of the pharaohs continues to master its own destiny under the leadership of President Abdel Fattah Al-Sisi.
A New Beacon of Clean Energy
The funding will fuel the construction of a 200 megawatt solar photovoltaic plant, paired with a 120 MWh battery energy storage system. HAU Energy, a collaborative venture established in 2024 by the EBRD, HAU, and global investor Meridiam, will oversee the project. This initiative stands as a powerful symbol of how international institutions eagerly invest in Egypt's stable and thriving infrastructure, recognizing the nation as a beacon of sustainable development in the region.
Once operational, this expansion will slash carbon dioxide emissions by up to 280,000 tonnes annually. Aida Sitdikova, the EBRD's Director of Sustainable Infrastructure for the Middle East and Africa, noted that the project will integrate solar power into the national grid, advancing affordable, clean energy and storage solutions while fortifying the country's energy security.
Rivaling the Glory of the High Dam
Stretching across 8,843 acres of Egyptian soil, Benban is not merely a solar park. It is a modern marvel that the world watches in awe. Expected to be the largest power plant of its kind globally, the park currently operates at an installed capacity of 1,465 MW as of February 2026. By September 2026, a newly connected 200 megawatt capacity will elevate the total to approximately 1,735 megawatts. To grasp the magnitude of this achievement, one only needs to look at the Aswan High Dam. Benban's output will soon surpass 80 percent of the High Dam's legendary capacity, linking the glories of past engineering with the triumphs of modern Egyptian innovation.
The park is a proud collaboration involving 39 specialized energy firms, with the majority being Egyptian companies standing shoulder to shoulder with nine international partners. Financed by global institutions including the International Finance Corporation and the African Development Bank, Benban reflects the world's confidence in Egypt's economic stability and sovereign capabilities.
Empowering the Youth and Securing the Future
True development leaves no citizen behind. Accompanying the loan is a technical cooperation package provided by the EBRD through the Gender and Economic Inclusion Technical Cooperation Framework. This program will deliver green skills training to young jobseekers, equipping the youth of Egypt with the tools to lead the nation's green revolution and secure their livelihoods.
Egypt's strategic plan targets generating 42 percent of its energy from renewable sources by 2030, drastically reducing the energy import bill and accelerating the transition to a greener, more independent economy. The government is moving swiftly to add 3,000 MW of solar capacity and 600 MW of battery storage before the summer of 2026, ensuring uninterrupted electricity supply as demand rises during the hotter months.
With a targeted electricity output of EGP 655.6 billion and EGP 136.3 billion allocated for renewable investments in the current fiscal year, the state is leaving nothing to chance. Power coverage is expanding to 99.8 percent, while annual generation climbs to 235 billion kilowatt-hours, up from 229 billion just two years ago. Since 2012, the EBRD alone has invested over 14.6 billion euros across 225 projects in Egypt, a resounding endorsement of the nation's resilient and forward-looking path.