Egypt approved a major solar-plus-storage project in Minya Governorate, granting Nefer Minya Renewable Energy a golden license to develop 1 GW of solar capacity alongside a 600 MWh battery energy storage system. The $750 million project will be developed in the West Minya area on a site covering about 20 sq. km. Nefer Minya Renewable Energy is a joint venture between Infinity Power Holding and HAU Energy. The project is expected to be completed by the end of September 2027. The developer is also pursuing financing from the European Bank for Reconstruction and Development for the solar-plus-storage project, which is expected to decide on the proposed funding by September 9, 2026.

The Asian Development Bank agreed to provide $50 million in medium-term financing to Türkiye-based Yapı Kredi Leasing to expand lending for clean energy, energy efficiency, and sustainable industrial investments. The funding will be deployed through the company’s sustainable leasing portfolio and will support equipment and facilities linked to solar, wind, and geothermal projects. It will also cover electric vehicles, charging infrastructure, and energy-efficient industrial machinery, with a particular focus on Türkiye’s textile sector. Approximately 15% of the financing will be directed toward blue-economy leasing activities. Eligible investments include biodegradable plastic packaging facilities, fisheries-related equipment, plastic recycling projects, and wastewater treatment infrastructure.

The Saudi Power Procurement Company entered into storage service agreements for four battery energy storage projects totaling 2 GW. Each project will have a capacity of 500 MW and will be capable of delivering electricity for four hours. Combined investment in the four projects is expected to exceed $1.16 billion. The facilities will be developed under the build-own-operate model and form part of Saudi Arabia’s broader plans to strengthen grid flexibility and reliability as renewable energy penetration increases. The projects also align with the country’s plans for renewable energy to account for roughly half of its electricity generation mix by 2030.