Egypt Signs MoU with China, UAE to Establish Two Solar Power Plants

The Prime Minister witnessed, at the Cabinet headquarters in the New Administrative Capital, the signing of a memorandum of understanding (MoU) to establish two solar energy factories in Egypt.

The first factory is dedicated to manufacturing solar cells with a capacity of 2 gigawatts, and the second to produce solar panels with a capacity of 2 gigawatts.

The agreement was signed by the Egyptian Ministry of Industry, represented by the Industrial Modernization Center, with the Emirati company "Global South Utilities" and the Chinese company "JA Solar", in the presence of officials from Egypt and the Emirates.

The Prime Minister stressed the importance of this step in supporting Egypt's Sustainable Energy Strategy 2035, noting that the project aims to meet the growing demand for clean energy, improve efficiency, and enhance the transition to renewable energy, in addition to supporting the clean energy infrastructure in Egypt and the region.

On his part, Kamel El-Wazir, Minister of Industry and Transport, said that the Industrial Modernization Center will provide the necessary support to implement the project, including providing data and information related to construction, offering investment incentives, and facilitating cooperation with local suppliers.

He pointed out that the project comes within the government's plan to promote green industries, which aims to represent 5% of the GDP by 2030, with a focus on deepening local manufacturing of renewable energy production requirements.

In turn, the Emirati side explained its commitment to supporting the project through coordination between partners and providing the necessary support to complete feasibility studies. 

The representative of the Chinese company confirmed that the project includes the establishment of two factories, the first with a production capacity dedicated to export with investments of $138 million, and the second to meet the needs of the local market with investments of $75 million, with a focus on gradually increasing the local component.