KEY POINTS
- Egypt will build an 8GW solar manufacturing hub in Suez
- .A large part of production will be exported to key markets.
- The project aims to create 600 local jobs and boost exports.
Egypt is set to build a massive solar energy manufacturing hub in the Suez Special Economic Zone.
This project is aimed at strengthening its position in renewable energy. The $150 million facility, led by Singapore-based EliTe Solar, is to produce high-efficiency solar cells, aimed at international markets, including the United States.
This solar hub will cover 78,000 square meters and be completed in two phases. The first phase, expected to finish by September 2025, will establish a 2GW production line for solar cells. Once the project reaches full capacity, the plant will have the potential to produce 8GW of solar energy components annually, generating over $190 million in yearly sales.
Promoting Egypt as the Solar Power of the Middle East
The hub has been said by Derek Liu, Chairman of EliTe Solar as cited by ESI Africa to make Egypt a significant market in the Middle East and North Africa markets. “With the overall target of 8GW of planned production, we are bringing in the solar technology that will revolutionize supply chains and production in the local markets,” Liu said.
This facility was established to support Egypt’s renewable energy plan and likewise export solar solutions to key global economies. Situated strategically to cover North America, Europe, and Africa, the Suez Special Economic Zone provided a convenient location for the solar plant. This partnership by EliTe Solar with Egypt focuses on meeting increasing demands for renewable energy not only in the region but globally as well.
Increasing Local Employment and Production
Besides boosting exports, the solar hub will be instrumental in stimulating the local economy. The project intends to generate 600 employment opportunities and support the growth of the renewable energy industry in Egypt. This will create a centre of solar manufacturing excellence but, in time, similar home industries that can service solar makers will also evolve.
This venture has the full support of the Egyptian government, and it is spearheaded by Prime Minister Mostafa Madbouly and Waleid Gamal El-Dien, Chairman of the Suez Special Economic Zone. This is not simply a domestic solar manufacturing project, it is a global advancement for Egypt’s energy market.
