Prime Minister Mostafa Madbouly witnessed the signing of three agreements related to the financing and implementation of the Dandara Solar Project in Nag Hammadi, Qena Governorate, with a total investment of approximately $650 million.
The project will have a total capacity of 1,000 MW of solar power and 200 MWh of battery storage, and is being developed through co‑operation between Norway’s Scatec and a consortium comprising the European Investment Bank, the European Bank for Reconstruction and Development, and the African Development Bank. The agreements also included the project’s connection to the national electricity grid and the National Bank of Egypt’s participation in the project company.
The project will be implemented in two phases. The first phase includes a 500 MW solar power plant and 100 MWh of battery storage capacity, while the second phase will add another 500 MW of solar generation and 100 MWh of storage capacity.
According to the government, the project is expected to provide around one-third of the electricity needs of Egypt Aluminium Company, helping reduce carbon emissions associated with aluminium production and enhancing the competitiveness of Egyptian products in global markets amid increasing environmental requirements.
The agreements represent a significant step towards completing financing and implementation arrangements for one of Egypt’s largest renewable energy projects dedicated to serving the industrial sector. The project also reflects co‑operation between the Egyptian government, international financial institutions, Scatec, and national banks to support the transition to clean energy, reduce emissions, and strengthen the competitiveness of Egyptian industry and exports.
