Chinese solar energy manufacturer Sunrev Solar will invest $200 million in an integrated industrial complex for solar components in Egypt’s Ain Sokhna, deepening Sino-Egyptian industrial cooperation under the Belt and Road Initiative.
The agreement, signed on Wednesday in the presence of Egypt’s Prime Minister Mostafa Madbouly, has been hailed as one of the largest renewable energy manufacturing investments within the Suez Canal Economic Zone (SCZONE), a key logistics and industrial corridor along the Red Sea.
The deal was formalised by Cao Hui, Managing Director of the China-Egypt TEDA investment zone, and Qi Fei, Managing Director of Sunrev Solar, alongside Egypt’s Deputy Prime Minister for Industrial Development Kamel Al-Wazir and SCZONE Chairperson Walid Gamal El-Din.
Under the plan, Sunrev will construct two facilities in the initial phase—one producing solar cells and the other solar modules—each with an annual capacity of 2 gigawatts. The second phase will focus on the upstream production of silicon ingots and wafers, completing a vertically integrated solar manufacturing chain.
The first phase is expected to become operational by mid-2026.
“This project underscores Egypt’s strategic vision to become a regional hub for green manufacturing,” Prime Minister Madbouly said at the signing ceremony. He added that SCZONE’s infrastructure and regulatory incentives were proving increasingly attractive to foreign investors in renewable energy.
Covering 200,000 square metres, the complex will be developed in two phases—$90 million in the first and $110 million in the second. It is projected to create over 1,800 direct jobs and generate up to $300 million in annual export revenues.
SCZONE Chairman Gamal El-Din described the project as a “milestone in the zone’s industrial development,” and a vote of confidence from a major Chinese technology supplier in Egypt’s investment climate.
The foundation stone for the facility is due to be laid this week.
Sunrev, a global manufacturer of photovoltaic components, is expanding its footprint as countries accelerate clean energy adoption. Its latest investment dovetails with Egypt’s national plans to localise renewable energy industries and achieve its Vision 2030 goals for sustainable development.
