Egypt’s Suez Canal Financial Zone (SCZone) has formally laid the inspiration stone for a USD 200 million (EGP 10.13 billion) built-in photo voltaic vitality advanced in Ain Sokhna, marking one of many nation’s largest industrial investments in renewable vitality.
The venture, led by China’s Sunrev Photo voltaic in collaboration with TEDA Egypt, the developer of the China-Egypt Suez Financial Zone, will span 200,000 sq. meters and is ready to be developed in two phases.
The primary part, valued at USD 90 million (EGP 4.56 billion), will embody the development of two factories to supply photo voltaic cells and modules, every with a manufacturing capability of two gigawatts. The second part, value USD 110 million (EGP 5.6 billion), will concentrate on localizing uncooked materials manufacturing, together with silicon ingots and wafers, making a full photo voltaic provide chain inside Egypt.
Operations are anticipated to start within the first half of 2026.
Greater than 1,800 direct jobs are anticipated to be created all through each phases of the venture, with further oblique employment alternatives anticipated.
Officers describe the venture as a strategic step towards boosting clear vitality manufacturing and strengthening Egypt’s transition to a inexperienced financial system.
Chairman of SCZone Walid Gamal El-Din hailed the venture as a key milestone for the economic zone and an indication of Egypt’s rising attraction as a hub for sustainable funding. He highlighted the zone’s infrastructure, location, and investor incentives as main attracts for worldwide companions.
The venture comes as a part of Egypt’s broader Imaginative and prescient 2030 technique and ongoing efforts to localize renewable vitality industries.
