The signing ceremony was attended by Lieutenant General Engineer Kamel El Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, and Walid Gamal Eldin, Chairman of the General Authority for the Suez Canal Economic Zone. The contract was signed by Cao Hui, Managing Director of TEDA, and He Fei, Managing Director of Sunrev Solar.
The project's first phase includes the construction of two
integrated factories for producing 2 GW of solar cells and 2 GW of solar
modules. The second phase will localize the production of essential raw
materials like silicon ingots and silicon wafers, in addition to the cells and
modules from the first phase.
The Prime Minister highlighted SCZONE's potential and
capabilities in attracting further investments across various sectors. He noted
the significant attention given to the new and renewable energy sector and the
efforts to provide more incentives and facilities for this promising industry.
He also pointed to ongoing initiatives to localize the manufacturing of various
components and supplies for new and renewable energy projects.
Walid Gamal Eldin explained that this project represents one
of the largest industrial investments in renewable energy components within
SCZONE. Spanning 200,000 square meters, the complex has a total investment
estimated at $200 million, divided into $90 million for the first phase and $110
million for the second phase. Upon completion of both phases, the project is
expected to create over 1,800 direct job opportunities and generate significant
added value through exports to regional and international markets, with projected
annual revenues reaching $300 million.
Gamal Eldin added that the cornerstone for the project will
be laid tomorrow, Thursday, June 19, 2025. The first phase is anticipated to
begin operations in the first half of 2026. He emphasized that this project
reflects the confidence of major international companies in SCZONE's investment
climate and reinforces the authority's strategy to localize advanced industries
and integrate solar energy component production and supply chains. This aims to
establish a complete production chain in Egypt, from raw materials to the final
product. He affirmed SCZONE's commitment to providing all necessary
facilitations to ensure the rapid implementation of the project according to
the targeted timeline.
It is worth noting that Sunrev Solar is a leading global company in the manufacturing of solar energy components. This agreement aligns with Egypt's national drive towards a green economy and supporting clean energy-related industries, in line with Egypt's Vision 2030 and sustainable development strategy.