Egyptian company Kemet has signed a cooperation agreement with Chinese clean energy conglomerate GCL to develop an industrial complex for manufacturing solar cells in Egypt.
According to a statement published by Egypt’s Ministry of Electricity and Renewable Energy, the industrial complex will have a production capacity of 5 GW, will span 280,000 sqm and require a total cost of $500 million.
The terms of the cooperation agreement also include technology transfer, use and value-added uplift of local production supplies, experience transfer and capacity building.
The agreement is one of several Kemet has entered into with Chinese companies to support the development of renewable energy in Egypt. Each of the signings were witnessed by Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, during his recent visit to China.
Kemet also signed a cooperation agreement with Chinese battery energy storage manufacturer Cornex to establish a $200 million battery energy storage factory in Egypt with an annual production capacity of 5 GWh.
The company also entered into a memorandum of understanding with Chinese power transformer manufacturer TBEA to cooperate on localizing electrical power grid connection systems in Egypt and establish the country’s first factory that produces solar inverters.
Kemet’s signings are the latest in a series of commitments from Chinese companies backing solar and storage manufacturing facilities in Egypt.
Last June, China’s Sunrev Solar announced it was building two integrated factories in Egypt with 2 GW of capacity each for solar cells and modules. Chinese investors, including JA Solar, are among those backing an industrial solar complex to be built in the Sokhna Industrial Zone.
Earlier this month, China’s Sungrow announced plans to construct a 10 GWh battery storage manufacturing facility in Egypt’s El-Sokhna industrial area.
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