The latest renewable energy news includes announcements on Scatec, Dandara Solar and Battery Project, GIGA Storage, Masdar, and others.
Egypt Advances $650 Million Financing for 1 GW Dandara Solar and 200 MWh Battery Project
Norwegian renewable-energy developer Scatec has signed preliminary financing terms for the $650 million Dandara solar project in Qena Governorate, Egypt. Announced October 26, the development combines 1 GW of photovoltaic generation with 200 MWh of battery storage. The European Investment Bank, European Bank for Reconstruction and Development and African Development Bank are participating in the proposed financing. The project will be developed in two phases, each comprising 500 MW of solar capacity and 100 MWh of storage. Egypt’s National Bank will acquire an equity stake in the project company. Separate agreements cover grid connection and electricity infrastructure. The project will supply renewable electricity to Egypt Aluminium’s industrial operations.
GIGA Storage Secures €260 Million Financing for 350 MW/1,400 MWh Battery Project in Germany
Dutch battery developer GIGA Storage has secured €260 million in debt financing for its 350 MW/1,400 MWh Albatross battery storage project in Lower Saxony, Germany. Announced October 26, the financing involves ABN AMRO, Hamburg Commercial Bank, ING, Rabobank, Siemens Financial Services, SMBC and Société Générale. Construction is expected to begin in early 2027, with commissioning targeted for early 2029. The four-hour battery facility will contain 264 battery units and connect directly to transmission operator Amprion’s high-voltage network. CATL will provide engineering, construction and maintenance services. Albatross forms part of GIGA Storage’s 1.4 GW/5.6 GWh European battery development portfolio.
Masdar Agrees to Acquire 550 MW Solar Project in Greece with Battery Storage Expansion Plans
UAE renewable-energy developer Masdar has signed an agreement to acquire a solar photovoltaic project exceeding 550 MW in Greece from Lightsource bp. Announced October 24 and reported internationally October 26, the project is expected to become operational before the end of 2026 and generate electricity equivalent to consumption by more than 200,000 households. The acquisition includes two privately owned substations connecting the facility to Greece’s transmission system. Masdar plans to integrate battery storage to improve electricity dispatch flexibility. The company also signed an agreement with Khazna Data Centers to explore renewable-powered data-centre development in Greece. Acquisition completion remains subject to regulatory approvals and customary conditions.