CAIRO – 21 November 2024: Egypt has signed a Memorandum of Understanding (MoU) with UAE-based Global South Utilities and China’s JA Solar to establish two solar energy factories. The signing ceremony, held in the presence of Prime Minister Mostafa Madbouly.
The agreement entails the construction of two production facilities, each with a capacity of 2 gigawatts—one dedicated to manufacturing solar cells and the other to producing solar panels.
These projects are integral to advancing Egypt’s renewable energy ambitions and meeting its growing energy demands.
As part of the MoU, Global South Utilities will support JA Solar in conducting feasibility studies and securing government incentives.
JA Solar will oversee the study phase, with investments projected at $138 million for the solar cell facility and $75 million for the solar panel factory, which will primarily serve local markets.
Prime Minister Madbouly emphasized the importance of industrial development as a driver of sustainable growth, noting that the initiative aligns with Egypt’s Sustainable Energy Strategy 2035. This strategy aims to enhance energy efficiency, expand renewable energy adoption, and bolster energy security.
The factories will utilize locally sourced materials, such as glass and aluminum, promoting Egypt’s efforts to localize industrial expertise while contributing to economic growth and job creation.
Be Social
Comments
Leave a Comment