LE BRIEF

Egypt: preliminary US$650 million agreement for Dandara solar and storage

LE BRIEF • 2026-10-27

Scatec’s project in Qena envisages 1,000 MW of solar power and 200 MWh of batteries. Preliminary financing terms involve three international institutions but do not yet constitute final financial close.

LE BRIEF — Tuesday, 27 October 2026 edition By the LE BRIEF newsroom Country : Egypt Source publication : 26 October 2026 Event : Preliminary financing terms signed on 26 October 2026. Solar and battery illustration supplied for this report; not authenticated as a photograph of Dandara. Egypt is advancing the structuring of Dandara, a solar and storage project being developed by Norway’s Scatec in Qena governorate. A preliminary financing agreement for the programme, estimated at US$650 million, was signed on 26 October 2026 at a ceremony attended by Prime Minister Mostafa Madbouly. The project envisages 1,000 MW of photovoltaic capacity combined with 200 MWh of battery storage. It is intended to contribute to Egypt Aluminium’s electricity supply and support the energy transformation of an electricity-intensive industry. Three financial institutions and a national partner Preliminary terms were signed with the European Investment Bank, the European Bank for Reconstruction and Development and the African Development Bank. The National Bank of Egypt is also expected to participate in the project company’s equity. This stage concerns financing structure and associated agreements. It does not confirm final financial close or full disbursement of the announced amounts. Two phases to support industry Development is planned in two phases, each comprising 500 MW of solar power and 10...