Multinational consortium agrees to invest US$220 million in solar PV, BESS factory in Egypt
Egyptian prime minister Dr Mostafa Madouly attended a signing ceremony for a land usufruct contract on Wednesday for the facility, dubbed the ‘Atom Solar Project’, which will be built in New Alamein City, in the Sokhna Industrial Zone in north-eastern Egypt.
Backers include Bahraini investor Infinity Capital, leading Chinese manufacturer JA Solar, Egyptian component repair group AH Industrial Management and UAE-headquartered investor Global South Utilities (GSU). The groups will invest a total of US$220 million into the project, and the Egyptian government noted that it expects construction and trial operation to take three years.
The government also noted that the factory’s cells will be designated for “export to global markets”, which could be significant as many countries with growing solar sectors look to reduce their reliance on Chinese cell production. According to the International Energy Agency (IEA), China accounted for 98% of global solar wafer production, and 92% of global solar cell production, as of 2023.
Meanwhile, the factory’s modules will be delivered to the domestic and nearby “regional” markets in the Middle East and Africa.
Project partner JA Solar was the supplier of PV modules to Abydos Solar, a 500MW solar PV project in Egypt to which the country’s first large-scale BESS was recently integrated. It was delivered by developer AMEA Power, while the site’s 300MWh of battery storage equipment was supplied and integrated by Trina Storage.