Egyptian firm Kemet has signed a deal with Chinese solar manufacturer GCL Technologies to build a 5GW solar cell and module manufacturing hub in the country.
The agreement was signed alongside two others, with Chinese battery manufacturer Cornex and Chinese power systems manufacturer TBEA, to establish battery and inverter manufacturing sites in Egypt.
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According to a statement by Egypt’s Ministry of Electricity and Renewable Energy, Kemet signed a cooperation deal with GCL to build the 5GW industrial complex to produce solar cells and modules, worth around US$500 million, during a visit to China.
Kemet also signed a US$200 million deal with Cornex to build a battery manufacturing facility with 5GWh of annual capacity and a memorandum of understanding with TBEA to establish Egypt’s first inverter production line.
GCL and Cornex will deploy their technology and sector expertise at the sites, which will produce products for the Egyptian market and other countries in the region.
According to Egyptian media reports, the Minister of Electricity and Renewable Energy, Mahmoud Esmat, said the deals were part of plans to position Egypt as a regional manufacturing hub for renewable energy and energy storage technologies.
These are not the first deals Chinese renewables manufacturers have made in Egypt. In December, solar manufacturing major JA Solar began construction on a solar PV cell, module and energy storage manufacturing hub in the Suez Canal Economic Zone. The project is backed by a joint venture between JA Solar, the Egyptian firm AH, the UAE investor Global South Utilities, and Infinity Capital from Bahrain.
The wider Middle East and North African region has also seen investment from Chinese manufacturers, likely looking to avoid strict import restrictions placed on Chinese and Southeast Asian manufacturing operations by the US. Firms including JinkoSolar and TCL Zhonghuan have announced manufacturing expansion in the Middle East over the last year.
