EliTe Solar to Establish 8 GW Solar Manufacturing Hub in Egypt

SINGAPORE, Sept. 10, 2024 /PRNewswire/ -- EliTe Solar, a leading global provider of integrated solar manufacturing solutions, has announced an investment to establish an 8 GW solar manufacturing hub in the Suez Special Economic Zone in Egypt, following discussions with Egypt's Prime Minister and the Chairman of the Suez Special Economic Zone. This major venture, marking a significant expansion into the Middle East, will support the region's growing renewable energy demand and contribute to Egypt's clean energy future. The new facility will ensure the production of high-efficiency solar cells and module assembly. A significant portion of the production will be exported to key markets, including the United States, positioning EliTe Solar as a critical player in the international solar supply chain. The investment, valued at over $150 million, will cover 78,000 square meters and will be completed in two phases. The first phase, set for completion by September 2025, will establish a 2 GW solar cell production line. Upon full operation, the facility is projected to generate annual sales exceeding $190 million, further reinforcing EliTe Solar's presence in the Middle East. "This venture will position Egypt as a central hub for photovoltaic manufacturing in the Middle East and North Africa," said Derek Liu, Chairman of EliTe Solar. "With a planned total production capacity of 8 GW, we are introducing solar technology to revolutionize local supply chains and manufacturing standards." The hub's location within the Suez Special Economic Zone offers strategic access to both domestic and international markets, including North America, Europe, and Africa. The development is expected to create thousands of local jobs and significantly boost Egypt's export capabilities, aligning with the nation's goal to become a regional leader in renewable energy. This new facility will complement EliTe Solar's existing manufacturing bases in Indonesia and Vietnam, further strengthening its global supply network. As a BNEF Tier 1 solar technology provider, EliTe Solar continues to lead in the development of sustainable and efficient solar energy solutions. The project underscores EliTe Solar's commitment to supporting the global transition to renewable energy while meeting the growing demand for solar power across the Middle East and beyond. About EliTe Solar: EliTe Solar, established in 2005, is a premier provider of photovoltaic modules and intelligent energy solutions, with over 10 GW of solar modules delivered globally. Headquartered in Singapore, with manufacturing facilities in Indonesia and Vietnam, EliTe Solar offers innovative solar technologies and financial solutions for utility, commercial, and industrial clients worldwide. Discover more at elite-solar.com. View original content:https://www.prnewswire.co.uk/news-releases/elite-solar-to-establish-8-gw-solar-manufacturing-hub-in-egypt-302241804.html

CONTINUA A LEGGERE