The African Development Bank (AfDB) signed a $66 million financing agreement for the first phase of the Dandara solar-plus-storage project in Qena, Egypt. The financing comprises $46 million sourced from ordinary Bank Group resources and $20 million in concessional funding from the Climate Investment Funds’ Clean Technology Fund. The first phase comprises 500 MW of solar capacity and 100 MWh of battery energy storage. The project will supply electricity to EgyptAlum under a 25-year power purchase agreement, supporting the company’s efforts to reduce its dependence on conventional electricity sources.