$650 million of sunshine for Upper Egypt: a giant solar farm takes its next step toward powering industry

Egypt has signed preliminary financing terms for one of its biggest solar projects yet: the $650 million Dandara plant at Nagaa Hammadi in Qena province, in the country's sunny south. Norway's Scatec will build it with backing from three big development banks — the European Investment Bank, the European Bank for Reconstruction and Development and the African Development Bank — with the National Bank of Egypt taking a stake. The plant will generate 1 gigawatt of solar power, enough to cover about a third of the electricity used by Egypt Aluminium, the country's largest aluminium maker, and it comes with batteries storing 200 megawatt-hours so power keeps flowing after sunset. It will be built in two equal halves of 500 megawatts each. Cleaner power for heavy industry also means cleaner air and lower bills for a country working to reach 42% renewable electricity by 2030.

SDG 7 · Affordable and clean energy — Mechanism: funding & finance