Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), attended the groundbreaking ceremony for the Chinese Elite Solar photovoltaic (PV) factory in the TEDA Egypt industrial development zone, located within the integrated Sokhna Zone under SCZONE. The new facility, with an investment of $150m, will specialize in the production of N-type solar cells and the manufacturing and assembly of photovoltaic (Module-Cell-Wafer) systems. The factory will have an impressive production capacity of 2 GW. Covering an area of 78,000 square meters in Sokhna, the factory is expected to create 600 direct jobs. The first phase of production is scheduled to open in September 2025. In his remarks during the ceremony, Walid Gamal El-Din emphasized SCZONE's commitment to strengthening the strategic Egyptian-Chinese partnership. He highlighted how such partnerships lead to projects that not only support the Egyptian economy through local industrial development but also enhance Chinese companies' export potential by tapping into SCZONE's prime location. SCZONE benefits from four industrial zones and six ports on both the Mediterranean and Red Seas, providing access to over two billion consumers through international trade and free trade agreements. Gamal El-Din described the Elite Solar project as a crucial addition to Egypt's photovoltaic energy supply chain, noting its role in complementing the green fuel sector. He explained that SCZONE aims to localize this sector, making Egypt a global leader in the production, distribution, and ship bunkering of green fuels as part of its green economy strategy. This initiative aligns with Egypt's Vision 2030, which targets generating 42% of the country's energy from renewable sources by 2030. The usufruct agreement for the Elite Solar project was signed during SCZONE's promotional tour to China in September, under the auspices of Prime Minister Mostafa Madbouly. Elite Solar PV, founded in 2005 in China, is one of the leading companies in the photovoltaic sector. The company manufactures solar energy systems, including solar cells and components (Wafer-Cell-Module), and is involved in the development, operation, and maintenance of solar farms and power stations. With a total production capacity exceeding 10 GW, the company serves a global client base, including prominent technology and information companies in the United States. It also holds registered trademarks in Mexico, Australia, the United Kingdom, Saudi Arabia, and the European Union.
