Egypt has signed a land usufruct agreement for the Atom Solar Egypt project in New Alamein City. The project is a partnership between Egyptian, Emirati, Bahraini, and Chinese entities to establish a fully integrated industrial complex across 200,000 square metres in the Sokhna Industrial Zone, part of the Suez Canal Economic Zone under Teda – Egypt.
It involves developing manufacturing facilities for solar cell production with a capacity of 2 GW, solar panel production with a capacity of 2 GW, and an energy storage manufacturing unit with a capacity of 1 GWh. The development of the manufacturing facility will be carried out over three years, covering both construction and trial operation before reaching full-scale commercial operations. The estimated investment for the facility is reported to be $220 million.
The entire output from the solar cell factory will be allocated for export to international markets. Further, the solar panel unit will serve demand within Egypt as well as in Middle Eastern and African markets. The project is also expected to generate 841 direct jobs and raise the share of local components by using Egyptian inputs such as aluminium and glass, thereby strengthening domestic industry and reducing import dependence.
