{"id":49104,"date":"2026-10-26T20:03:45","date_gmt":"2026-10-26T18:03:45","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=49104"},"modified":"2026-10-26T20:03:45","modified_gmt":"2026-10-26T18:03:45","slug":"egypt-signs-preliminary-financing-agreement-on-650-million-solar-project","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/egypt-signs-preliminary-financing-agreement-on-650-million-solar-project\/","title":{"rendered":"Egypt signs preliminary financing agreement on $650 million solar project \u00a0"},"content":{"rendered":"<p>Egypt has signed a preliminary financing agreement with Norway&#8217;s Scatec and three \u200cmultilateral development banks for a $650 million solar power project in the southern province of Qena, the cabinet said this Monday.<\/p>\n<p>&nbsp;<\/p>\n<p>Egypt is scaling up renewable energy \u2060projects to reduce its natural gas import bill, targeting a 42% share of renewable energy in its electricity generation mix by 2030.<\/p>\n<p>&nbsp;<\/p>\n<p>The Dandara project in Nagaa Hammadi city will have generation capacity of 1 gigawatt and battery storage of 200 \u200cmegawatt \u2060hours, the cabinet said.<\/p>\n<p>&nbsp;<\/p>\n<p>The European Investment Bank, European Bank for Reconstruction and Development and African Development Bank are participating in the financing \u2060arrangements while the National Bank of Egypt will take an equity stake in the project company.<\/p>\n<p>&nbsp;<\/p>\n<p>The \u2060project will be built in two phases, each adding 500 megawatts of \u2060solar capacity and 100 megawatt hours of battery storage.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":20789,"template":"","meta":{"_acf_changed":false,"_members_access_role":[],"_members_access_error":"","_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-49104","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Egypt signs $650 million solar project deal","published_date":"2026-10-26 20:02:38","news_description":"Egypt signs $650 million solar project deal","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/49104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/49104\/revisions"}],"predecessor-version":[{"id":49106,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/49104\/revisions\/49106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/20789"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=49104"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=49104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}