Egypt’s Suez Canal Monetary Zone (SCZone) has formally laid the inspiration stone for a USD 200 million (EGP 10.13 billion) built-in picture voltaic vitality superior in Ain Sokhna, marking considered one of many nation’s largest industrial investments in renewable vitality.
The enterprise, led by China’s Sunrev Picture voltaic in collaboration with TEDA Egypt, the developer of the China-Egypt Suez Monetary Zone, will span 200,000 sq. meters and is able to be developed in two phases.
The first half, valued at USD 90 million (EGP 4.56 billion), will embody the event of two factories to provide picture voltaic cells and modules, each with a producing functionality of two gigawatts. The second half, worth USD 110 million (EGP 5.6 billion), will focus on localizing raw supplies manufacturing, along with silicon ingots and wafers, making a full picture voltaic present chain inside Egypt.
Operations are anticipated to start out inside the first half of 2026.
Better than 1,800 direct jobs are anticipated to be created all by means of every phases of the enterprise, with additional indirect employment options anticipated.
Officers describe the enterprise as a strategic step in the direction of boosting clear vitality manufacturing and strengthening Egypt’s transition to a inexperienced monetary system.
Chairman of SCZone Walid Gamal El-Din hailed the enterprise as a key milestone for the financial zone and a sign of Egypt’s rising attraction as a hub for sustainable funding. He highlighted the zone’s infrastructure, location, and investor incentives as predominant attracts for worldwide companions.
The enterprise comes as part of Egypt’s broader Imaginative and prescient 2030 approach and ongoing efforts to localize renewable vitality industries.
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