#solar energy #EliTe Solar #Egypt #Suez

EliTe Solar's Milestone Investment in Egypt

On December 16, 2024, EliTe Solar, a leading photovoltaic manufacturer based in Singapore, marked a significant milestone by laying the foundation for a new 5 GW solar energy manufacturing plant in the TEDA Suez Economic and Trade Cooperation Zone in Egypt. This facility will span over 78,000 square meters and is set to commence production in September 2025, with the capacity to produce 2 GW of solar cells and 3 GW of solar module production lines.

Revolutionizing the Egyptian Solar Industry
The groundbreaking ceremony attracted notable guests eager to discuss the promising investment opportunities ahead. Among them were Waleid Gamal Eldien, Chairman of the Suez Canal Economic Zone, Ouyang Xiaoming, the first secretary of the Chinese embassy in Egypt, and Li Daixin, President of China-Africa TEDA Investment Co., Ltd.

"Starting this investment is pivotal for the advancement of the Egyptian photovoltaic sector," said Waleid Gamal Eldien. “By introducing advanced solar production technologies and optimizing local supply chains, this initiative will uplift the production standards across Egypt.” EliTe Solar's technology suite and managerial expertise are expected to bolster the country’s global standing in the solar energy sector.

The investment injects cutting-edge energy manufacturing technologies into Egypt, energizing local supply chains and enhancing Egypt's export capabilities while increasing its global influence in the solar energy market. This initiative promises to invigorate the local economy and acts as a vital catalyst for Egypt’s renewable energy aspirations, targeting 42% of electricity from clean sources by 2030.

Strengthening Egypt's Energy Future
Li Daixin emphasized the project's importance, stating, "The investment not only fortifies the Egyptian photovoltaic industry but also positions Egypt as a key solar energy manufacturing hub in the Middle East and North Africa (MENA) region. It enhances supply chain capabilities and supports the global growth of renewable energy."

With recent energy shortages and disruptions across Egypt spotlighting the critical demand for electricity, there’s an urgent call for diverse energy solutions to ensure energy independence. This investment satisfies that need by providing sustainable solutions via renewable energy sources. Once operational, the plant is projected to generate 500 million kWh annually, saving approximately 307 million tons of standard coal, which corresponds to offsetting CO2 emissions equivalent to planting 84 million trees.

Liu Jingqi, President of EliTe Solar, remarked, "Launching this investment in Egypt exemplifies our commitment to technological innovation and industry integration. It underscores EliTe Solar's mission as a leader in the global renewable energy transition. Together with our partners, we are paving a greener future and setting new benchmarks in the energy transformation landscape."

Founded in 2005, EliTe Solar has rapidly expanded with several manufacturing hubs in Vietnam, Indonesia, and now Egypt, enhancing its international footprint in the energy sector. Moving forward, the company aims to further drive the energy transition by exporting high-quality technology, thus contributing to worldwide sustainable development.

EliTe Solar prides itself on its robust customer service, empowering clients to achieve success while improving profitability, and has a track record of delivering over 10 GW of solar modules globally. The firm provides intelligent photovoltaic solutions to utility companies, commercial and industrial clients, and residential customers internationally. EliTe Solar's strategic focus on optimizing the Levelized Cost of Energy (LCOE) ensures maximum value creation while minimizing risks, empowering clients to gain a competitive edge in the global marketplace.

With a strong brand presence and significant manufacturing capabilities, EliTe Solar has constructed a fully integrated business model—from silicon wafers to cells and modules—contributing to vertical integration in the photovoltaic industry. More about their offerings can be found at www.elite-solar.com.