Latest news with #SunrevSolar
Daily News Egypt
35 minutes ago
- Business
- Daily News Egypt
China's Sunrev to invest $200m in solar component industrial complex in Egypt's Sokhna
Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of a contract to establish an integrated industrial complex for the production of solar energy components in Ain Sokhna's industrial zone, part of the Suez Canal Economic Zone (SCZONE). The project will be developed by Chinese firm Sunrev Solar. The contract was signed by Cao Hui, Managing Director of TEDA, and Qi Fei, Managing Director of Sunrev Solar, in the presence of Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, and Chairperson of SCZONE Walid Gamal El-Din. The project will involve the construction of two integrated factories in its first phase: one for producing solar cells and another for solar modules, each with a capacity of 2 gigawatts. The second phase will focus on localising the production of key raw materials—such as silicon ingots and wafers—completing the full solar component value chain. Prime Minister Madbouly highlighted the strategic advantages of SCZONE in attracting diverse investments, especially in renewable energy. He reiterated the government's commitment to localising new and renewable energy technologies and providing incentives to support their growth. SCZONE Chairperson Walid Gamal El-Din described the project as one of the zone's largest industrial investments in renewable energy components. Spanning 200,000 square metres, the project will see a total investment of $200m—$90m for the first phase and $110m for the second. It is expected to create over 1,800 direct jobs across both phases and generate annual export revenues of up to $300 million. The foundation stone will be laid on Thursday, with the first phase scheduled to begin operations in the first half of 2026. Gamal El-Din emphasised that the project reflects the confidence of major international investors in SCZONE's business climate and supports the authority's broader strategy to localise advanced industries and integrate solar energy production chains—from raw materials to finished products. He reaffirmed SCZONE's commitment to providing all necessary support to ensure the project's timely execution. Sunrev Solar is one of the world's leading manufacturers of solar energy components. This investment aligns with Egypt's national strategy to transition to a green economy, promote clean energy industries, and advance the goals of Egypt's Vision 2030 and Sustainable Development Strategy.
Zawya
3 hours ago
- Business
- Zawya
Egypt pens $200mln deal with China's Sunrev Solar to build solar energy complex in Sokhna
Prime Minister Mostafa Madbouly witnessed the signing of a contract for the establishment of an integrated industrial complex for solar energy supplies in the Ain Sokhna industrial zone, within the Suez Canal Economic Zone (SCZone), as per a statement. The project will be developed by Chinese company Sunrev Solar with total investments of $200 million, and is among the largest industrial investments in renewable energy components within the zone. Spanning 200,000 square meters, the project will be executed in two phases. The first phase involves the construction of integrated factories with a production capacity of 2 gigawatts of solar cells and 2 gigawatts of solar modules, with investments of $90 million. The second phase, valued at $110 million, will focus on localizing the production of key raw materials such as silicon ingots and wafers, completing the full solar energy supply chain from raw material to finished product. Madbouly emphasized the strategic importance of the SCZone in attracting investments across various sectors, particularly in renewable energy. He noted ongoing efforts to localize manufacturing of new and renewable energy components, backed by strong government support and incentives. Chairman of the SCZone Waleid Gamal El-Dien stated that the project is expected to generate more than 1,800 direct jobs across both phases. It will contribute significantly to Egypt's export capacity, with anticipated annual revenues of up to $300 million. He added that the foundation stone will be laid on June 19th, with the first phase scheduled to begin operations in the first half (H1) of 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
9 hours ago
- Business
- Egypt Today
Prime Minister Witnesses Signing of $200 Million Solar‑Energy Supplies Complex Deal
Cairo - 18 June 2025: Prime Minister Mostafa Madbouly presided over the signing ceremony this morning for the establishment of an integrated industrial complex dedicated to manufacturing solar‑energy components in the Ain Sokhna industrial zone, part of the Suez Canal Economic Zone. The project is being executed by Chinese firm Sunrev Solar . The contract was signed by Tsao‑Kai, Managing Director of TEDA, and Chi Fai, Managing Director of Sunrev Solar . Attendees included Deputy Prime Minister and Minister of Industry and Transport Engineer Kamel El‑Wazir, as well as Walid Gamal Eldin, Chairman of the Suez Canal Economic Zone Authority . The first phase of the project includes the construction of two state‑of‑the‑art factories—one for solar cells and another for solar modules—each with an initial capacity of 2 GW. A future second phase will localize production of primary raw materials such as silicon ingots and wafers . Prime Minister Madbouly highlighted the strategic advantages of the Suez Canal Economic Zone in attracting investment across various sectors. He emphasized that the renewable-energy sector is receiving increasing incentives and support, especially efforts aimed at localizing the manufacturing of solar‑energy components . Walid Gamal Eldin described the project as one of the Suez Zone's largest renewable‑energy component investments. The complex will span 200,000 m² with total investment of $200 million—$90 million allocated for the first phase and $110 million for the second. It is expected to generate over 1,800 direct jobs and produce exports worth an estimated $300 million annually . He added that the groundbreaking ceremony will take place on Thursday, June 19, 2025, with the first phase expected to be operational in the first half of 2026. The project reflects global confidence in Egypt's investment climate and complements the Authority's strategy to fully localize the solar‑energy supply chain—from raw materials to finished products . Sunrev Solar is recognized as a major international solar‑components manufacturer. This agreement supports Egypt's broader green‑economy ambitions under the Egypt Vision 2030 and its sustainable‑development strategy .
