Thursday, July 17

Point AI

Powered by AI and perfected by seasoned editors. Every story blends AI speed with human judgment.

China’s Sunrev to invest $200 million in solar manufacturing complex in Egypt

The solar production plant will serve Egypt’s renewable energy
A renewable solar plant


Subject(s):

Psst… you’re reading Techpoint Digest

Every day, we handpick the biggest stories, skip the noise, and bring you a fun digest you can trust.

Chinese solar company, Sunrev, has signed an agreement to establish a $200 million integrated industrial complex for the production of solar energy components in Egypt’s Ain Sokhna industrial zone, part of the Suez Canal Economic Zone (SCZONE).

The contract was signed by Cao Hui, Managing Director of TEDA, and Qi Fei, Managing Director of Sunrev Solar.

The signing took place in the presence of Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, along with the Chairperson of SCZONE, Walid Gamal El-Din.

The project will be developed by Sunrev Solar.

At the signing ceremony, Egypt’s Prime Minister Mostafa Madbouly said the government is committed to localising new and renewable energy technologies and providing incentives to support their growth.

The solar production plant will serve Egypt’s renewable energy as the government approves more projects. 

The project will involve the construction of two integrated factories in its first phase: one for producing solar cells and another for solar modules, each with a capacity of 2 gigawatts (GW). 

The second phase of the project will focus on localising the production of key raw materials, such as silicon ingots, thereby completing the full solar component value chain.

On his part, SCZONE Chairperson, Walid Gamal El-Din described the project as one of the zone’s largest industrial investments in renewable energy components.

“The project reflects the confidence of major international investors in SCZONE’s business climate and supports the authority’s broader strategy to localise advanced industries and integrate solar energy production chains, from raw materials to finished products”, Gamal El-Din said.

The project site will cover a land area of 200,000 square metres.

The project’s total investment of $200 million will come in two phases.

The first phase will be funded with $90 million, while the second phase will require $110 million.

It is expected to create over 1,800 direct jobs across both phases and generate annual export revenues of up to $300 million.

The foundation stone will be laid today, with the first phase scheduled to begin commercial operations in the first half of 2026. 

This investment aligns with Egypt’s national strategy to transition to a green economy, promote clean energy industries, and advance the goals of Egypt’s Vision 2030 and Sustainable Development Strategy.

Follow Techpoint Africa on WhatsApp!

Never miss a beat on tech, startups, and business news from across Africa with the best of journalism.

Follow

Read next