China’s Elite Solar PV lays foundation for $150M project in SCZONE
Updated 12/17/2024 4:44:00 AM
Arab Finance: Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Waleid Gamal El-Dien witnessed the laying of the foundation stone of China-based Elite Solar PV’s solar energy plant at TEDA-Egypt area in the Sokhna Industrial Zone, as per a statement.
The project will produce N-type solar cells and manufacture and assemble photovoltaic systems, including modules, cells, and wafers.
The plant has a production capacity of 2 gigawatts and costs $150 million in investments.
Spanning an area of 78,000 square meters, it offers 600 direct job opportunities.
The first phase of the project is expected to open in September 2025.
This project supports Egypt's strategy to move towards a green economy, aligning with Egypt Vision 2030 and the goal of producing 42% of its energy from green sources by 2030.
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