09 May 2022
- EBRD to lend up to US$ 4.8 million to Intro Sustainable Resources and Intro Solar S.A.E.
- Funds to finance investments in small-scale green energy transition projects
The European Bank for Reconstruction and Development (EBRD) is lending up to US$ 4.8 million to Intro Sustainable Resources (Intro-SR) and Intro Solar S.A.E in Egypt.
The loan will finance Intro-SR’s equity stake in a portfolio of energy efficiency, waste to energy, waste management and solar photovoltaic (PV) projects. The projects include one of the first private-to-private energy generation projects in Egypt, aimed at promoting resource consumption efficiency.
Intro-SR was established in the Dubai International Financial Centre (DIFC) in 2020 to develop renewable energy, energy management, waste to energy, energy efficiency, and waste management projects. It is owned by Intro Investments Holding Ltd. established in 2016.
Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the EBRD has invested more than €8.5 billion in 144 projects across the country.