The Emerging Africa & Asia Infrastructure Fund (EAAIF) has provided a $30 million senior secured corporate loan to Hassan Allam Utilities. The funding will support the Minya 1 GW solar and 660 MWh battery energy storage system (BESS) project in Africa.
The Minya solar and BESS project is being co-developed with Infinity Power. The funding builds on the earlier $40 million financing signed in November 2024 to support renewable energy projects, including the Suez 1,100 MW Wind Project co-developed with ACWA Power.
In February 2026, the EAAIF and Ninety One’s EMTD strategy provided $30 million in bridge-loan financing to support Verdant Energy’s acquisition of the Philippines Hybrid Energy Systems Inc (PHESI) wind and storage project in the Philippines. The project comprises 16 MW of wind generation capacity and a 6MWh battery energy storage system. The project, located in the Oriental Mindoro region, will supply clean electricity to Mindoro Island. Verdant completed the acquisition of the project in partnership with Raslag.
