New solar photovoltaic panels in Cairo

The bifacial modules are producing energy from both sides of the solar panel, increasing the total clean energy generation. The project holds a 25-year PPA with the Egyptian Electricity Transmission Company. The equity partners are KLP Norfund Investments AS and Africa 50. Lenders are EBRD, FMO, IsDB, ICD and Green CF.

Egyptian officials emphasized the role of the facilities in supporting Egypt's renewable energy targets and economic development. JA Solar, a leading solar manufacturer, reported 57 GW in PV module shipments in 2023, with 37.6 GW shipped in the first three quarters of 2024 – half to overseas markets.

Egyptian Prime Minister Mostafa Madbouly attended the signing ceremony. JA Solar will oversee the construction of a 2 GW solar cell factory and a 2 GW PV module factory, partnering with local Egyptian entities. The solar cell factory will cost $138 million, while the module factory will require $75 million.

Chinese manufacturer JA Solar has agreed to build a 2 GW solar cell and module factory in Egypt with support from UAE-based Global South Utilities. The Egyptian government has signed a memorandum of understanding (MoU) with UAE-based Global South Utilities and China's JA Solar to set up two solar manufacturing facilities at unspecified locations.

Scatec and Egypt Aluminium have signed a 25-year USD-denominated corporate Power Purchase Agreement (PPA) for a 1.1 GW Solar PV + 100 MW/200MWh BESS project in Egypt backed by sovereign guarantee. Egypt Aluminium is the largest aluminium producer and industrial electricity consumer in Egypt and exports approximately 60% of its production to Europe.

Lenders are EBRD, FMO, IsDB, ICD and Green CF. Scatec has partnered with Fertiglobe, The Sovereign Fund of Egypt and Orascom Construction to develop, build, own and operate a 100 MW green hydrogen production facility in Ain Sokhna in Egypt. When the project is fully developed the facility will be powered by 260 MW of solar and wind capacity.