EBRD, Hassan Allam, Meridiam team up for developing renewable energy projects in Egypt

Doaa A.Moneim , Thursday 4 Apr 2024

The European Bank for Reconstruction and Development (EBRD), in collaboration with Meridiam and Hassan Allam Utilities (HAU), the investment and development arm of Hassan Allam Holding, announced on Thursday raising capital in the new platform HAU Energy BV established to invest in renewable energy projects in Egypt and potentially in other African countries.

EBRD, Hassan Allam, Meridiam team


According to the EBRD, the investment will promote the private sector’s participation in Egypt’s energy sector, facilitate the government’s decarbonization plans by expediting the roll-out of renewable energy projects, and contribute to green energy transition in Egypt.

The project is a key part of the 10 GW renewables programme under Egypt’s EBRD-led energy pillar of the Nexus on Water, Food, and Energy (NWFE) initiative.

The NWFE, launched in 2022 at COP27, shows the government’s commitment towards sustainable policy engagement, strategically crafted to align with its aspirations. 

“All the projects will follow strict and best environmental and social practices, building on the partners’ recognized expertise in this area,” the EBRD added in a statement.

This long-term partnership and its resulting renewable energy projects will help support and accelerate Egypt's energy transition programme, Meridiam’s CEO Thierry Déau stated.

“We will draw on our extensive experience in the renewable energy sector and work with our partners to ensure that these projects become a reference in the region,” he added.

“Through our combined efforts we look forward to progressing Egypt’s ambition to expand its green energy footprint. This collaboration should drive substantial foreign investment, boost economic resilience, and foster sustainable growth,” said Amr Allam, co-CEO of Hassan Allam Holding.

Moreover, this partnership aims to support Egypt’s scaling up of renewables and accelerate its green economy transition, Nandita Parshad, EBRD’s managing director for sustainable infrastructure, said.

“This strategic investment is set to facilitate the delivery of the 10 GW renewables programme under Egypt’s energy pillar of the NWFE initiative,” she added.

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