{"id":712115,"date":"2026-06-21T00:00:00","date_gmt":"2026-06-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=712115"},"modified":"2026-06-21T03:02:48","modified_gmt":"2026-06-21T03:02:48","slug":"eib-considers-backing-alcazars-ras-ghareb-scatecs-dandara-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/21\/eib-considers-backing-alcazars-ras-ghareb-scatecs-dandara-projects\/","title":{"rendered":"EIB considers backing Alcazar\u2019s Ras Ghareb, Scatec\u2019s Dandara projects"},"content":{"rendered":"

The European Investment Bank (EIB) is currently weighing financing for two major renewable energy projects in the country<\/strong> that will add a combined 1.6 GW of clean power to the national grid, according to project disclosures published by the bank.<\/p>\n

Project #1:<\/strong> Dubai-based Alcazar Energy is building two adjacent 250 MW onshore wind farms \u2014 NIAT and Rasgha \u2014 near Ras Ghareb on the Red Sea. The total development price tag is USD 572 mn and Alcazar asked the EIB<\/a> for a USD 152 mn loan to help cover the costs. The developer is currently hunting for the rest of the debt from other multilateral lenders, with the European Bank for Reconstruction and Development (EBRD) also evaluating a USD 200 mn loan<\/a> for the complex.<\/p>\n

Project #2: <\/strong>EIB is appraising<\/a> a project from Norwegian renewables giant Scatec, which is building a 1.1 GW solar plant, called Dandara, alongside a massive battery storage system in Qena. Instead of linking Dandara\u2019s output to the national grid, Scatec will sell it to the state-owned aluminum giant EgyptAlum to help the energy-heavy manufacturer lower its carbon footprint and avoid the EU\u2019s incoming carbon border tax. The first 500 MW phase of Dandara will cost USD 315 mn. While the EIB has not disclosed how much it plans to lend the project, the EBRD is evaluating a USD 80 mn<\/a> loan for this initial phase.<\/p>\n

But don\u2019t confuse this with Scatec\u2019s other <\/strong>Qena project, Obelisk<\/a><\/strong>, which sells power directly to the government and already has its first phase up and running.<\/p>\n

Why it matters: <\/strong>EIB\u2019s interest in these two projects suggests that multilateral financial institutions continue to see a compelling commercial prospect in large-scale renewable energy projects in Egypt. They also reflect the broadening of the country\u2019s green energy market beyond traditional utility-backed projects, with developers increasingly targeting both utility-scale power generation and direct power supply agreements with industrial consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"

The European lender is appraising a USD 152 mn slice of Alcazar\u2019s wind debt, alongside an undisclosed package for Scatec\u2019s B2B solar lifeboat for EgyptAlum<\/p>\n","protected":false},"author":1,"featured_media":712116,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[12728,93,72,151,573,12727],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-712115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-alcazar","tag-energy","tag-enterpriseam","tag-renewables","tag-scatec","tag-the-european-investment-bank","wpautop","entry"],"acf":{"mongo_id":"6145745d-f0db-4008-8f5b-511cbe4a1080","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/1178.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Greenbacks for green megawatts","related_issue":[712107],"teaser":"The European lender is appraising a USD 152 mn slice of Alcazar\u2019s wind debt, alongside an undisclosed package for Scatec\u2019s B2B solar lifeboat for EgyptAlum","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"\nEIB considers backing Alcazar\u2019s Ras Ghareb, Scatec\u2019s Dandara projects - 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The International Finance Corporation (IFC) could provide USD 83 mn to an Emirati-Japanese consortium to part-fund their planned 500 MW wind farm in Ras Ghareb, according to the lender\u2019s website. The financing is pending approval and would consist of a USD 75 mn\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/106.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589924,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/eib-earmarks-eur-4-bn-for-local-development-projects-including-nwfe-al-mashat\/","url_meta":{"origin":712115,"position":1},"title":"EIB earmarks EUR 4 bn for local development projects including NWFE -Al Mashat","author":"enterpriseam admin","date":"11 July 2023","format":false,"excerpt":"Central Bank Governor Hassan Abdalla praised the EIB\u2019s \u201cinvaluable\u201d support","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577204,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/","url_meta":{"origin":712115,"position":2},"title":"EIB could commit USD 1.5 bn in new financing to Egypt","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"EIB could invest in water projects in Egypt: The European Investment Bank (EIB) plans to commit USD 1.5 bn in new financing to Egypt, primarily focusing on water treatment, the bank\u2019s VP, Gelsomina Vigliotti, told Bloomberg Asharq on the sidelines of the COP27 summit. Vigliotti didn\u2019t provide further information about\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/215.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586369,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/10\/alexbank-secures-usd-15-mn-from-eib-for-green-on-lending\/","url_meta":{"origin":712115,"position":3},"title":"Alexbank secures USD 15 mn from EIB for green on-lending","author":"enterpriseam admin","date":"10 May 2023","format":false,"excerpt":"The funding comes as part of the Green Economy Financing Facility","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/539.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593629,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/germanys-senvion-pulls-out-of-ras-ghareb-wind-energy-plant-tender\/","url_meta":{"origin":712115,"position":4},"title":"Germany\u2019s Senvion pulls out of Ras Ghareb wind energy plant tender","author":"enterpriseam admin","date":"3 October 2019","format":false,"excerpt":"German wind energy company Senvion has retracted its bid in the tender for Lekela\u2019s 250 MW Ras Ghareb wind energy plant because of financial difficulties, unnamed sources from the New and Renewable Energy Authority said, according to Al Mal. This leaves Siemens Gamesa and Denmark\u2019s Vestas in the running for\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594333,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/27\/vestas-awarded-tender-for-250-mw-ras-ghareb-wind-plant\/","url_meta":{"origin":712115,"position":5},"title":"Vestas awarded tender for 250 MW Ras Ghareb wind plant","author":"enterpriseam admin","date":"27 October 2019","format":false,"excerpt":"The New and Renewable Energy Authority (NREA) has awarded the tender to build a 250 MW wind energy plant in Ras Ghareb to Danish firm Vestas, sources familiar with the matter told the press. The two parties are expected to sign the contract before the end of the year after\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/712115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=712115"}],"version-history":[{"count":2,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/712115\/revisions"}],"predecessor-version":[{"id":712176,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/712115\/revisions\/712176"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/712107"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/712116"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=712115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=712115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=712115"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=712115"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=712115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}