EBRD funds $147 million in solar‑plus‑storage projects in Egypt and Hungary

*TL;DR – The EBRD is providing $65 million for a 200 MW solar‑plus‑storage plant in Egypt and €70 million (≈$82 million) for a 450 MW hybrid project in Hungary, marking its first energy financing in the country since 2010.*

Context The European Bank for Reconstruction and Development (EBRD) is expanding its renewable‑energy portfolio in two fast‑growing markets. Egypt seeks to cut fuel imports and boost grid resilience, while Hungary relies increasingly on solar to replace coal. Both projects pair photovoltaic (PV) panels with battery energy storage systems (BESS) that can store electricity for later use, a model that improves grid stability and enables “green baseload” power.

Key Facts - The EBRD approved a $65 million loan to HAU Energy for a 200 MW solar PV plant with a 120 MWh BESS at the Benban solar complex, Egypt’s largest solar hub. The financing includes a technical cooperation package aimed at gender‑balanced training for renewable‑sector jobs. - In Hungary, the bank will lend €70 million (about $82 million) to Renalfa IPP for a 450 MW solar PV plant coupled with a 250 MW/1 GWh BESS in Szihalom, north‑eastern Hungary. The loan is part of a €210 million financing package that also involves commercial banks. - Renalfa’s CEO Ivo Prokopiev said the hybrid plant will deliver green baseload electricity and provide flexibility services to the Hungarian grid once it starts operating later this year. - The Hungarian project is the EBRD’s first energy‑sector financing in the country since 2010 and the largest hybrid renewable asset under construction in Central and Eastern Europe. - Solar now supplies roughly 24 % of Hungary’s electricity, up from less than 5 % a decade ago, according to think‑tank Ember.

What It Means The dual financing underscores the EBRD’s strategy to back large‑scale, grid‑supporting renewables in emerging and transition economies. In Egypt, the Benban loan complements a broader push to diversify the energy mix and create skilled jobs, especially for women, through the bank’s Gender and Economic Inclusion framework. In Hungary, the Szihalom project demonstrates how hybrid assets can replace coal without relying on subsidies or long‑term corporate power‑purchase agreements, aligning with the country’s decarbonisation targets.

Investors will watch how these projects affect regional power markets. In Egypt, the added 200 MW could shave several percentage points off fuel‑import bills, while in Hungary the 450 MW hybrid plant may pressure remaining coal plants and influence spot‑price volatility. The next data point will be the operational start‑up dates later this year, which will reveal the real‑world impact on grid reliability and renewable penetration.

*Watch for the first power output reports from Benban and Szihalom in Q4 2026, and for any follow‑on financing announcements from the EBRD as it expands its hybrid‑energy footprint.*