GCL, Cornex and TBEA will build a solar energy production complex in Egypt

Egyptian company Kemet has signed a cooperation agreement with Chinese clean energy conglomerate GCL to develop an industrial complex for the production of solar cells in Egypt.

According to a statement published by the Egyptian Ministry of Electricity and Renewable Energy, the industrial complex will have a production capacity of 5 GW, cover an area of ​​280,000 square meters and require a total cost of US$500 million.

The terms of the cooperation agreement also include technology transfer, use and increase of the added value of local production resources, transfer of experience and capacity building.

The agreement is one of several Kemet has entered into with Chinese companies to support the development of renewable energy in Egypt. Each of the signings was attended by Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, during his recent visit to China.

Kemet also signed a cooperation agreement with Chinese battery energy storage manufacturer Cornex to set up a $200 million battery energy storage factory in Egypt with an annual production capacity of 5 GWh.

The company also entered into a memorandum of understanding with Chinese power transformer manufacturer TBEA to cooperate in localizing power grid connection systems in Egypt and establish the country’s first factory producing solar inverters.

Kemet’s signing is the latest in a series of commitments from Chinese companies supporting solar and storage manufacturing facilities in Egypt.

Last June, China’s Sunrev Solar announced it was building two integrated factories in Egypt with 2 GW of capacity each for solar cells and modules. Chinese investors, including YES solar energyare among those who support one industrial solar complex to be built in the Sokhna Industrial Zone.

Earlier this month, China’s Sungrow announced plans to build a 10 GWh battery storage manufacturing facility in Egypt’s El-Sokhna industrial area.

Popular content