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Egypt, Sweden’s Sunshine Pro partner to build 1 GW solar panel plant

This initiative is designed to bolster local manufacturing capabilities, reduce imports, attract foreign investments, and expand the private sector.
25.12.24 | Source: Egypt Today

The Minister of Electricity and Renewable Energy, Mahmoud Esmat, and the Chairman of the Arab Organization for Industrialization (AOI), Mokhtar Abdel Latif, have signed a landmark agreement to establish a joint industrial project for solar panel production. The deal, between the Arab Renewable Energy Company, a subsidiary of AOI, and Sweden’s Sunshine Pro, marks a significant step toward advancing Egypt’s renewable energy goals.

 

The project includes the creation of the Arab-Swedish Energy Factory (ASEF), an automated solar panel production facility with a capacity of 1 GW annually. This initiative is designed to bolster local manufacturing capabilities, reduce imports, attract foreign investments, and expand the private sector's role in sustainable development.

 

Minister Esmat emphasized the importance of collaboration with key industry players to accelerate renewable energy projects, stabilize the national grid, and cut carbon emissions. “The private sector is a vital partner in these efforts, and the Ministry is committed to supporting local and foreign investments in clean energy technologies,” he stated.

 

Chairman Abdel Latif highlighted the project’s potential to meet the rising demand for renewable energy solutions across Egypt, Africa, and the Middle East. “Our goal is to enhance local manufacturing, meet market needs, and compete globally with high-quality, competitively priced products. The ASEF factory will leverage cutting-edge digital manufacturing systems to produce world-class solar panels,” he said.

 

The initiative aligns with Egypt’s national strategy for sustainable energy, targeting 42% renewable energy in the national energy mix by 2030 and over 60% by 2040. It also reflects advancements in renewable energy technologies and energy storage systems while supporting efforts to localize modern technologies and reduce reliance on fossil fuels.

 

Yehia Metini, Chairman of Sunshine Pro, expressed pride in collaborating with AOI, recognizing its historic role in Egyptian industry. “This partnership represents a milestone in localizing advanced technologies and developing renewable energy projects for domestic, Arab, and African markets while opening new export opportunities globally,” he said.

 

The project is expected to significantly contribute to Egypt’s economy, enhance industrial capabilities, and support the country’s transition to clean energy.

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