> ## Content Index > Fetch the complete content index at: https://blog.financely.io/llms.txt > Use this file to discover other available public pages before exploring further. # Project Finance News: Egypt’s 1.2 GW Solar Plant, USD 815m US Solar, Data Center Power Loans - URL: https://blog.financely.io/project-finance-news-egypts-1-2-gw-solar-plant-usd-815m-us-solar-data-center-power-loans/ - Published: 2026-10-24T09:39:13.000Z - Updated: 2026-10-24T09:39:13.000Z - Description: EBRD leads up to USD 566m of debt for Africa’s largest solar plant, energyRe closes USD 815m, and banks fund power equipment and compute for AI data centers. - Author: Financely Debt Advisors - Tags: Project Finance News Project Finance Brief · 24 October 2026 ## Africa's Largest Solar Plant Gets Its Lenders as Banks Race to Fund Power for Data Centers Development finance institutions line up behind a 1.2 GW solar and storage plant in Egypt, US banks close a USD 815 million solar package, and bridge and delayed draw facilities emerge as the tool of choice for power and compute capacity tied to AI. Here is what closed this week and what it means for sponsors. USD 566m Total debt package for Egypt's 1.2 GW Nefer Menya solar and storage plant USD 815m energyRe financing for five South Carolina solar projects USD 3.5bn Citi-arranged facility for Nebius's AI data center build-out USD 456bn Global project finance loans year to date at Q3, per LSEG data ## EBRD leads financing for Africa's largest solar plant ![Utility-scale solar panels in Egypt](https://www.ebrd.com/content/dam/ebrd_dxp/assets/images/countries/southern-and-eastern-mediterranean/egypt/2026/solar_pv_hero_1282x682.jpg) Solar PV in Egypt. Image: [source](https://www.ebrd.com/home/news-and-events/news/2026/ebrd-backs-largest-solar-pv-project-in-egypt-and-africa.html?ref=blog.financely.io). The EBRD is arranging up to USD 265 million for Nefer Menya, a 1.2 GW solar PV plant with 600 MWh of battery storage in Minya, Egypt, [the bank announced](https://www.ebrd.com/home/news-and-events/news/2026/ebrd-backs-largest-solar-pv-project-in-egypt-and-africa.html?ref=blog.financely.io) on 20 October. The package combines a USD 160 million EBRD A-loan, a USD 75 million B-loan from Bank of Jordan and up to USD 30 million of concessional finance from the Climate Investment Funds' Clean Technology Fund. With DEG, FMO and Proparco as co-financiers, total debt reaches up to USD 566 million. The project company is owned by Infinity Power and HAU Energy, and sells its output to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement. The structure is a template for emerging-market renewables. An A/B loan lets a development bank bring a commercial lender into a market it might otherwise avoid, and concessional money targeted at storage closes the gap on the battery component that commercial lenders still price cautiously. ## energyRe closes USD 815 million for South Carolina solar ![Utility-scale solar farm](https://img-cdn.publive.online/fit-in/1200x675/renewable-watch/media/media_files/renewable-watch/media/media_files/2026/09/30/rw-2026-09-30-15-46-09.png) Utility-scale solar. Image: [source](https://renewablewatch.in/2026/10/19/energyre-closes-815-million-financing-for-us-solar-projects/?ref=blog.financely.io). US developer energyRe has closed a USD 815 million financing for five utility-scale solar projects in South Carolina totalling about 360 MW, [Renewable Watch reported](https://renewablewatch.in/2026/10/19/energyre-closes-815-million-financing-for-us-solar-projects/?ref=blog.financely.io). Bank of America, CIBC and Santander provided the debt, and the projects are backed by 25-year power purchase agreements. Long-dated contracted revenue remains the foundation of bankable solar. Sponsors with a signed PPA from a creditworthy offtaker are still getting bank debt at scale, while merchant and short-contract projects face a narrower and more expensive lender pool. ## Atlas Energy Solutions borrows USD 424 million for data center power equipment Atlas Energy Solutions closed a USD 424 million senior secured delayed draw term loan with Goldman Sachs and Barclays on 22 October to buy power generation and balance-of-plant equipment for two data center projects, [according to its SEC filing](https://www.sec.gov/Archives/edgar/data/0001984060/000110465926117979/tm2628081d1%5Fex99-1.htm?ref=blog.financely.io). USD 171 million was drawn at closing, with the rest drawn as equipment payments fall due. The loan has a 180-day initial maturity, extendable by 184 days once energy supply agreements are signed, and is priced at SOFR plus 2.50%. "This facility enables us to de-risk the supply chain by ordering long lead-time items well in advance of commissioning," said CEO John Turner. Turbines, transformers and switchgear now have lead times measured in years. Short bridge facilities that fund equipment deposits before long-term contracts are signed are becoming a standard first step in behind-the-meter power for data centers, with the take-out financing to follow once offtake is locked in. ## Citi arranges USD 3.5 billion for Nebius's AI infrastructure AI cloud company Nebius Group has secured a USD 3.5 billion senior secured credit facility, with Citi as mandated lead arranger, agent and security agent, to fund data center expansion and GPU purchases, [W.Media reported](https://w.media/nebius-group-secures-multi-billion-loan-to-fund-ai-infrastructure-expansion/?ref=blog.financely.io). The 364-day facility starts at SOFR plus 2.75%. Chief operating officer Ophir Nave pointed to asset-backed financing supported by more than USD 40 billion of investment-grade long-term customer contracts as a further funding route. ## Project finance lending reaches USD 456 billion through Q3 Global project finance loans reached USD 456 billion in the year to date at the end of the third quarter, according to LSEG data cited by [Project Finance International](https://www.pfie.com/people-and-markets/2501330/pf-q3-numbers-out?ref=blog.financely.io). PFI also points to surging project finance activity in Texas, where ERCOT demand growth is drawing new power deals, and to a new phase for digital infrastructure financing in Asia-Pacific. ## This week at a glance | Sponsor | Lenders | Financing | Project | | -------------------------------------------------------- | ------------------------------------------------- | --------------------------------- | ------------------------------------------------- | | **Nefer Menya (Infinity Power, Hassan Allam Utilities)** | EBRD, Bank of Jordan, CIF CTF, DEG, FMO, Proparco | Up to USD 566m debt package | 1.2 GW solar + 600 MWh BESS, Egypt | | **energyRe** | Bank of America, CIBC, Santander | USD 815m | Five solar projects, about 360 MW, South Carolina | | **Atlas Energy Solutions** | Goldman Sachs, Barclays | USD 424m delayed draw term loan | Power equipment for two data center projects | | **Nebius Group** | Citi (MLA, agent, security agent) | USD 3.5bn senior secured, 364-day | AI data center expansion and GPUs | ### What sponsors should take from this week Lenders are funding projects with contracted revenue, credible sponsors and a clear path from construction to long-term debt. Where long-term contracts are not yet signed, short bridge and delayed draw facilities are filling the gap, but only for sponsors who can show a credible take-out. A bankable model, a complete data room and a lender-by-lender strategy matter more than ever. Financely is an advisor and arranger, not a lender. We help sponsors prepare bankable projects and approach the right lenders, from the financial model and information memorandum to lender outreach and financial close. See what a [project finance advisory engagement delivers](https://www.financely-group.com/project-finance-advisory-deliverables-from-assessment-to-close?ref=blog.financely.io). ## Raising debt for a project? Tell us about the project, its stage, its offtake and the capital you need. We will review it and set out how to make it bankable. [Request a Free Estimate](https://www.financely.io/request-a-free-estimate?ref=blog.financely.io) This brief is for general information only and does not constitute legal, tax or investment advice. It summarises third-party reporting, linked above, which Financely has not independently verified. Images belong to their respective sources. Financely is an advisory and arranging firm, not a lender or broker-dealer. Any financing is subject to the lender's underwriting, due diligence, credit approval, documentation and conditions precedent, and no outcome or timeline is guaranteed.