Scatec secures $217M for Dandara phase 1 in Egypt and starts construction
Scatec ASA has closed non-recourse loans of $217M for the first phase of the Dandara solar project in Egypt and started building it.
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what happened
Scatec ASA has closed non-recourse loans worth $217M for the first phase of the Dandara project in Egypt and begun construction. The project combines a 569 MW solar plant with a 100 MWh battery storage system. Power will be sold to Egypt Aluminium under a 25-year purchase agreement backed by a government guarantee.
According to TradingView, which cites Scatec's press release, capital spending for phase 1 is about $271M, with roughly 80% financed by debt. Commissioning is planned for the first half of 2028, and a decision on the second phase is expected in the first half of 2027.
why it matters
The deal shows that renewable projects in Egypt can attract financing when the power contract is backed by a state guarantee. For Scatec itself, the move from development to construction and the EPC revenue it brings matter most, though schedule and budget now become the key execution risks.
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instruments
sources
- Scatec ASA (SCATC) Secures $217M for Dandara Phase 1, Starts Construction — TradingView, 28 October 2026 at 18:46 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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