Wedoany.com Report-Jun 24, Chinese solar company Sunrev Solar has announced plans to construct an integrated industrial complex for solar components in Egypt’s Ain Sokhna industrial zone, located within the Suez Canal Economic Zone. A signing ceremony, attended by Egypt’s Prime Minister Mostafa Madbouly, was held last week to formalize the agreement between Sunrev Solar and the Egyptian government. The cornerstone for the project was laid during the event, with the first phase expected to be completed by mid-2026.

The project’s initial phase includes two factories producing 2 gigawatts (GW) of solar cells and 2 GW of solar modules. The second phase will focus on localizing the production of raw materials, such as silicon ingots and wafers. Spanning 200,000 square meters, the complex represents a $200 million investment, with $90 million allocated to the first phase and $110 million to the second, making it one of the largest renewable energy industrial investments in the Suez Canal Economic Zone.

The initiative is expected to create over 1,800 direct jobs across both phases, boosting local employment. The Egypt State Information Service projects that exports from the complex to regional and international markets will generate $300 million in annual revenue, strengthening Egypt’s position in the global renewable energy market.

He Fei, managing director of Sunrev Solar, stated: “The company will bring its most advanced solar technologies to combine Chinese speed and Egyptian wisdom to efficiently achieve the project’s objectives.”

Waleid Gamal El-Dien, chairman of the Suez Canal Economic Zone, commented: “The choice of Sokhna reflects its competitive advantages, including its strategic location, modern infrastructure, integration with Sokhna Port, and the incentives [the economic zone] provides.”

This project follows a November 2024 agreement by another Chinese solar manufacturer, JA Solar, to establish 2 GW solar cell and module factories in Egypt, in collaboration with local companies and Abu Dhabi-based Global South Utilities. The Sunrev Solar complex underscores the growing partnership between Chinese renewable energy firms and Egypt, leveraging Ain Sokhna’s strategic location to enhance sustainable energy production and economic development.