GCL, Cornex, TBEA to build solar manufacturing complex in Egypt

Egyptian industrial company Kemet Industries has inked historic agreements with three top Chinese energy and technology companies, GCL, Cornex New Energy, and TBEA, to create a cutting-edge solar manufacturing ecosystem in Egypt. This is a significant step toward accelerating Egypt's capacity to produce renewable energy. Through the project, the nation will become a regional center for energy storage technology and photovoltaic (PV) production.

In accordance with the flagship agreement with

GCL Group, Kemet and GCL Group will work together to build a 5 GW solar cell and PV module manufacturing complex that will take up around 280,000 square meters and cost an estimated $500 million USD. The initiative aims to increase Egypt's industrial proficiency in solar manufacturing through technology transfer, skill development, and a local content approach.

Egypt's Minister of Electricity and Renewable Energy, Mahmoud Esmat, attended the signing event, highlighting the government's strategic focus on growing the nation's supply chain for renewable energy.

The agreements with GCL, Cornex, and TBEA, according to Egyptian officials, are a critical step in realizing Egypt's larger renewable energy policy, which calls for raising the proportion of renewable energy in the country's energy mix to 42% by 2030.

The initiative "will position Egypt as a manufacturing hub for renewable energy equipment across the Middle East and Africa," according to Mr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, who highlighted the significance of knowledge transfer and local capacity creation.

By developing local manufacturing capabilities for solar cells, modules, energy storage systems, and inverters, Egypt seeks to diminish dependence on imported components and decrease the overall cost of deploying solar projects.

The partnership with Chinese technology executives further advances workforce development through training initiatives and knowledge sharing, contributing to the establishment of a skilled industrial foundation within the country.

As international demand for renewable energy equipment persistently increases, Egypt’s new solar manufacturing facility, developed in partnership with GCL, Cornex, and TBEA, establishes the country as a leader in clean energy industrialization within North Africa.