The African Development Bank Group (AfDB) has approved a financing package for the first phase of the 500 MW Dandara solar project with a 100 MWh battery energy storage system (BESS). The project is located in Qena Governorate, Egypt. The $66 million financing comprises $46 million from the Bank’s ordinary resources and $20 million from the Climate Investment Funds’ Clean Technology Fund, with additional debt expected from development finance institutions.

Furthermore, the project has an estimated cost of over $290 million, and is scheduled to become operational in early 2028. The project will generate around 1,373 GWh of clean electricity annually and will supply power to EgyptAlum under a 25-year power purchase agreement. The project is also expected to reduce approximately 500,000 tonnes of carbon emissions annually.

In April 2026, the African Development Bank Group approved a $5.65 million reimbursable grant from the Sustainable Energy Fund for Africa to pilot the Peace Renewable Energy Certificate (P-REC) Aggregation Facility. The initiative will use renewable energy certificates as a primary financing mechanism to support a portfolio of mini-grid projects across Africa.