Prime Minister Madbouli oversees a landmark agreement to establish a $200 million integrated industrial complex for solar energy components, set to boost Egypt’s green economy ambitions
Egyptian Prime Minister Mostafa Madbouli witnessed the signing of a pivotal contract today for the creation of a massive integrated industrial complex dedicated to producing solar energy components. Located within the Ain Sokhna industrial zone, part of the General Authority for the Suez Canal Economic Zone (SCZone), the project will be undertaken by Chinese firm Sunrev Solar.
The agreement was signed by Cao Hui, Managing Director of TEDA, and Xi Fei, Managing Director of Sunrev Solar. Key officials present included Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, and Waleid Gamal El-Dien, Chairman of the SCZone.
The ambitious project will unfold in two phases. The initial phase involves constructing two integrated factories for producing solar cells and solar modules, each with a 2-gigawatt capacity. The second phase will focus on localizing the production of crucial raw materials, such as silicon ingots and wafers, in addition to expanding cell and module manufacturing.
Prime Minister Madbouly underscored the SCZone’s strategic advantages in attracting investments, particularly highlighting the government’s strong support for the new and renewable energy sector. He emphasized ongoing efforts to localize the production of various components vital to green energy projects, offering incentives and facilitations to this promising field.
Waleid Gamal El-Dien, SCZone Chairman, described the project as one of the largest industrial investments in renewable energy components within the SCZone. Spanning 200,000 square meters, the complex represents a total investment of $200 million, with $90 million allocated for the first phase and $110 million for the second.
The project is projected to create over 1,800 direct job opportunities across its two phases. It’s also expected to generate significant added value through exports to regional and international markets, with anticipated annual revenues reaching $300 million.
The foundation stone for the project is slated to be laid tomorrow, Thursday, with the first phase expected to be operational by the first half of 2026. El-Dien affirmed that this endeavor reflects the confidence of major global companies in the SCZone’s investment climate and aligns with the Authority’s strategy to localize advanced industries. The goal is to establish a fully integrated solar energy production chain in Egypt, from raw materials to the final product.
Sunrev Solar, a global leader in solar component manufacturing, is partnering with Egypt on this initiative, which is a key part of the nation’s strategy toward a green economy and aligns with Egypt’s Vision 2030 and Sustainable Development Strategy.
