Egypt is set to become a key player in solar energy manufacturing with a new 8GW solar production hub. The project stood at a value of $150 Million which, will be constructed in the Suez Special Economic Zone covering a staggering area of 78,000 square meters. It will develop in two phases.
Phase one featuring a 2GW solar cell production line will be completed by September 2025. Once fully operational, the facility is expected to generate annual sales of more than $190 million.
Derek Liu, Chairman of EliTe Solar, emphasized the importance of this project, stating, “This venture will position Egypt as a central hub for photovoltaic manufacturing in the Middle East and North Africa. We are introducing solar technology to revolutionize local supply chains and manufacturing standards.”
EliTe Solar, headquartered in Singapore, is a global leader in integrated solar manufacturing solutions. EliTe Solar and key Egyptian officials, including Prime Minister Mostafa Madbouly and Waleid Gamal El-Dien, Chairman of the Suez Special Economic Zone were the part of discussion
The new facility will focus on producing high-efficiency solar cells and assembling modules. Offering access to markets in North America, Europe, and Africa. A significant portion of the output will be exported to major markets, including the United States.
In addition to boosting Egypt’s export capabilities, the project will create about 600 local jobs. It aims to support Egypt’s clean energy goals and stimulate local industries related to renewable energy.
The Suez Special Economic Zone highlights the project’s potential to bridge gaps in the photovoltaic industry and attract related industrial clusters.
