{"id":88757,"date":"2024-12-19T00:00:00","date_gmt":"2024-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/19\/hassan-allam-utilities-nabs-a-usd-40-mn-investment-facility-for-renewables\/"},"modified":"2024-12-19T00:00:00","modified_gmt":"2024-12-19T00:00:00","slug":"hassan-allam-utilities-nabs-a-usd-40-mn-investment-facility-for-renewables","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/19\/hassan-allam-utilities-nabs-a-usd-40-mn-investment-facility-for-renewables\/","title":{"rendered":"Hassan Allam Utilities nabs a USD 40 mn investment facility for renewables"},"content":{"rendered":"

HAU secures investments for renewables pipeline: <\/strong>Hassan Allam Utilities (HAU) secured a USD 40 mn investment facility from the Emerging Africa and Asia Infrastructure Fund \u2014 a unit of Private Infrastructure Development Group<\/a> \u2014 to finance 2.3 GW worth of renewable energy projects, according to a press release (pdf)<\/a>.<\/p>\n

Where will the money go?<\/strong> The investment will be used to fund projects that Hassan Allam is co-developing with other partners, including the Gulf of Suez 1.1 GW wind farm<\/a>, the giant 1.2 GW Benban plant<\/a>, and the Wahat Solar photovoltaic (PV) plants<\/a> and its 720 MWh battery energy storage systems (BESS). <\/p>\n

IN OTHER EGYPT NEWS- <\/p>\n

Al Mansour Automotive and Chinese state-owned SAIC\u2019s secured an allocation for a 21k <\/strong>sqm plot of land from the Egyptian government for their assembly <\/strong>project<\/a><\/strong>, Al Mal<\/a> reports, citing sources from Egypt\u2019s Industry Ministry it says have knowledge of the matter. The pair intends to assemble traditional and EVs for SAIC-owned brand MG.<\/p>\n

We got a more definite date of when to expect production to kick off<\/strong>, with the news outlet's sources saying that vehicles should start rolling off the assembly lines in 2026. The factory will put out a total of 15k cars a year.<\/p>\n

We knew this was in<\/strong> the works:<\/strong> Al Mansour Automotive announced plans for the plant in partnership with China\u2019s state-owned SAIC and an unnamed partner last month. The local automotive player first secured the rights<\/a> to be MG\u2019s exclusive distributor back in 2018. <\/p>\n","protected":false},"excerpt":{"rendered":"

The money will go towards projects in the company\u2019s 2.3 GW portfolio<\/p>\n","protected":false},"author":1,"featured_media":88758,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[11,164,202,151,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseclimate","tag-green-finance","tag-hassan-allam","tag-investment-watch","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"0ea6498d-6f5e-4ddb-8e04-db10a3a85c85","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1857.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Hassan 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