3rd of November 2026
Sharkawy & Sarhan acted as Egyptian counsel to IFC on its equity investment of approx. $100 million in the initial public offering (IPO) of Banque du Caire (BdC) as part of the Egyptian government’s privatization program
Keywords: Banking & Finance, Financial Institutions
Sharkawy & Sarhan is delighted to have acted as Egyptian counsel to the European Bank for Reconstruction and Development (EBRD), the African Development Bank Group (AfDB) and the European Investment Bank (EIB) on the financing of the landmark Dandara Solar Power Project in Egypt, developed by Scatec ASA.
The project marks a significant step forward in Egypt’s renewable energy transition. At full build-out, it will have 1,000 MWac of solar capacity and 200 MWh of battery energy storage, with total investment of about USD 650 million. The lenders are financing for the first phase: 500 MWac of solar PV and a 100MWh battery storage system. Commercial operation is targeted for the first half of 2028.
Dandara is one of the first projects of its scale in Egypt’s history to generate renewable power from a privately developed plant and carry it through the national grid to an industrial user. Under a 25-year power purchase agreement backed by a sovereign guarantee, the project will supply about one third of Egypt Aluminium’s electricity needs. This will significantly reduce carbon emissions from aluminium production and make Egyptian products more competitive in global markets.
A series of key agreements were recently signed in the presence of the Prime Minister of Egypt, paving the way for the financing and implementation of the project. The transaction is another milestone in Egypt’s clean energy journey. It shows the growing role of renewable energy in decarbonising industry and supporting sustainable economic growth. It also reflects strong collaboration between the Egyptian Government, international development finance institutions, national banks and private investors in advancing Egypt’s renewable energy ambitions.
It was a privilege to work alongside A&O Shearman, acting as international counsel to the lenders, Norton Rose Fulbright, acting as international counsel to the developers, and Mazghouny & Co, acting as local counsel to the developers, as well as all other parties involved in bringing this significant transaction to a successful close.
Well done to our Projects team for their dedication and expertise: Partner Ahmed El Sharkawy, Senior Associate Noha Eissa, Associate Nour ElSisi, and Attorneys at Law Abdulsalam Wayel, Mariam El Dahry and Omar El Zemety.
Sharkawy & Sarhan is delighted to have acted as Egyptian counsel to the European Bank for Reconstruction and Development (EBRD), the African Development Bank Group (AfDB) and the European Investment Bank (EIB) on the financing of the landmark Dandara Solar Power Project in Egypt, developed by Scatec ASA.
The project marks a significant step forward in Egypt’s renewable energy transition. At full build-out, it will have 1,000 MWac of solar capacity and 200 MWh of battery energy storage, with total investment of about USD 650 million. The lenders are financing for the first phase: 500 MWac of solar PV and a 100MWh battery storage system. Commercial operation is targeted for the first half of 2028.
Dandara is one of the first projects of its scale in Egypt’s history to generate renewable power from a privately developed plant and carry it through the national grid to an industrial user. Under a 25-year power purchase agreement backed by a sovereign guarantee, the project will supply about one third of Egypt Aluminium’s electricity needs. This will significantly reduce carbon emissions from aluminium production and make Egyptian products more competitive in global markets.
A series of key agreements were recently signed in the presence of the Prime Minister of Egypt, paving the way for the financing and implementation of the project. The transaction is another milestone in Egypt’s clean energy journey. It shows the growing role of renewable energy in decarbonising industry and supporting sustainable economic growth. It also reflects strong collaboration between the Egyptian Government, international development finance institutions, national banks and private investors in advancing Egypt’s renewable energy ambitions.
It was a privilege to work alongside A&O Shearman, acting as international counsel to the lenders, Norton Rose Fulbright, acting as international counsel to the developers, and Mazghouny & Co, acting as local counsel to the developers, as well as all other parties involved in bringing this significant transaction to a successful close.
Well done to our Projects team for their dedication and expertise: Partner Ahmed El Sharkawy, Senior Associate Noha Eissa, Associate Nour ElSisi, and Attorneys at Law Abdulsalam Wayel, Mariam El Dahry and Omar El Zemety.
3rd of November 2026
Keywords: Banking & Finance, Financial Institutions
Sharkawy & Sarhan is delighted to have acted as Egyptian counsel to the European Bank for Reconstruction and Development (EBRD), the African Development Bank Group (AfDB) and the European Investment Bank (EIB) on the financing of the landmark Dandara Solar Power Project in Egypt, developed by Scatec ASA.
The project marks a significant step forward in Egypt’s renewable energy transition. At full build-out, it will have 1,000 MWac of solar capacity and 200 MWh of battery energy storage, with total investment of about USD 650 million. The lenders are financing for the first phase: 500 MWac of solar PV and a 100MWh battery storage system. Commercial operation is targeted for the first half of 2028.
Dandara is one of the first projects of its scale in Egypt’s history to generate renewable power from a privately developed plant and carry it through the national grid to an industrial user. Under a 25-year power purchase agreement backed by a sovereign guarantee, the project will supply about one third of Egypt Aluminium’s electricity needs. This will significantly reduce carbon emissions from aluminium production and make Egyptian products more competitive in global markets.
A series of key agreements were recently signed in the presence of the Prime Minister of Egypt, paving the way for the financing and implementation of the project. The transaction is another milestone in Egypt’s clean energy journey. It shows the growing role of renewable energy in decarbonising industry and supporting sustainable economic growth. It also reflects strong collaboration between the Egyptian Government, international development finance institutions, national banks and private investors in advancing Egypt’s renewable energy ambitions.
It was a privilege to work alongside A&O Shearman, acting as international counsel to the lenders, Norton Rose Fulbright, acting as international counsel to the developers, and Mazghouny & Co, acting as local counsel to the developers, as well as all other parties involved in bringing this significant transaction to a successful close.
Well done to our Projects team for their dedication and expertise: Partner Ahmed El Sharkawy, Senior Associate Noha Eissa, Associate Nour ElSisi, and Attorneys at Law Abdulsalam Wayel, Mariam El Dahry and Omar El Zemety.
Sharkawy & Sarhan is delighted to have acted as Egyptian counsel to the European Bank for Reconstruction and Development (EBRD), the African Development Bank Group (AfDB) and the European Investment Bank (EIB) on the financing of the landmark Dandara Solar Power Project in Egypt, developed by Scatec ASA.
The project marks a significant step forward in Egypt’s renewable energy transition. At full build-out, it will have 1,000 MWac of solar capacity and 200 MWh of battery energy storage, with total investment of about USD 650 million. The lenders are financing for the first phase: 500 MWac of solar PV and a 100MWh battery storage system. Commercial operation is targeted for the first half of 2028.
Dandara is one of the first projects of its scale in Egypt’s history to generate renewable power from a privately developed plant and carry it through the national grid to an industrial user. Under a 25-year power purchase agreement backed by a sovereign guarantee, the project will supply about one third of Egypt Aluminium’s electricity needs. This will significantly reduce carbon emissions from aluminium production and make Egyptian products more competitive in global markets.
A series of key agreements were recently signed in the presence of the Prime Minister of Egypt, paving the way for the financing and implementation of the project. The transaction is another milestone in Egypt’s clean energy journey. It shows the growing role of renewable energy in decarbonising industry and supporting sustainable economic growth. It also reflects strong collaboration between the Egyptian Government, international development finance institutions, national banks and private investors in advancing Egypt’s renewable energy ambitions.
It was a privilege to work alongside A&O Shearman, acting as international counsel to the lenders, Norton Rose Fulbright, acting as international counsel to the developers, and Mazghouny & Co, acting as local counsel to the developers, as well as all other parties involved in bringing this significant transaction to a successful close.
Well done to our Projects team for their dedication and expertise: Partner Ahmed El Sharkawy, Senior Associate Noha Eissa, Associate Nour ElSisi, and Attorneys at Law Abdulsalam Wayel, Mariam El Dahry and Omar El Zemety.
