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Chinese company Elite Solar has officially broken ground on a new solar manufacturing facility in Egypt, set to produce N-type solar cells and module-cell-wafer photovoltaic systems with an annual capacity of 2 gigawatts (GW). The groundbreaking ceremony took place on December 16 in the Sokhna Integrated Zone, part of the Suez Canal Economic Zone (SCZone), and was attended by SCZone Chairman Waleid Gamal El-Dien, the First Secretary of the Chinese Embassy in Cairo, the Chairman of Elite Solar, and other key officials.
The facility, located on 78,000 square meters in Sokhna, is set to be constructed at an investment cost of USD 150 million (EUR 142.89 million). The first phase of the project is expected to open in September 2025. This investment marks a significant step in Egypt’s renewable energy sector, as it aims to expand its solar energy production capabilities.
A land usufruct contract between industrial developer TEDA Egypt and Elite Solar was signed in September, as part of a broader agreement involving six deals with Chinese companies, totaling over USD 1 billion. These agreements were finalized on the sidelines of the Forum on China-Africa Cooperation, underscoring the growing economic collaboration between China and Africa. |
