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SUEZ, Egypt, Dec. 20, 2024 /PRNewswire/ -- On December 16, 2024, EliTe Solar, a leading solar PV manufacturer headquartered in Singapore, held a groundbreaking ceremony for its new project in the Egypt TEDA Suez Economic and Trade Cooperation Zone, marking a major milestone in the company's global strategic expansion. The facility has a planned capacity goal of 5GW, spanning an area of 78,000 square meters. The project is scheduled to begin production in September 2025, featuring 2GW solar cell and 3GW solar module production lines.
At the ceremony, distinguished guests, including Mr. Waleid Gamal Eldien, Chairman of the Suez Canal Economic Zone, Arab Republic of Egypt; Mr. Ouyang Xiaoming, First Secretary of the Chinese Embassy in Egypt; Mr. Li Daixin, Chairman of China-Africa TEDA Investment Co., Ltd.; and Mr. Liu Jingqi, Chairman of EliTe Solar, gathered to engage insights and discuss the future development prospects of the project.
"The launch of this project represents a major milestone in the development of Egypt's solar industry," stated Mr. Waleid Gamal Eldien, Chairman of the Egypt Special Economic Zone Authority. "By introducing advanced solar manufacturing technologies and optimizing local supply chains, this initiative will raise Egypt's overall manufacturing standards. EliTe Solar's advanced solar technology and managerial expertise will further enhance our global standing in solar power industry."
This project brings advanced energy manufacturing technologies to Egypt, driving the local solar industry supply chain and boosting Egypt's export capabilities and global influence in the solar market. It provides fresh momentum to the local economy and acts as a key driver in supporting Egypt's 2030 renewable energy goal of achieving 42% clean energy transformation.
"This project not only strengthens Egypt's solar industry but also positions the country as a key solar manufacturing hub in the Middle East and North Africa (MENA). It enhances supply chain capabilities while providing crucial support for global renewable energy growth," said Li Daixin, Chairman of China-Africa TEDA Investment Co., Ltd.
Considering the recent power shortages and blackouts experienced across Egypt this year, which highlight strong future demands for electricity, there is an urgent need for a diversified energy architecture to ensure energy independence. This project perfectly addresses these needs by delivering sustainable solutions through renewable energy resources. Once completed, the project will generate 500 million kWh annually, save approximately 307 million tons of standard coal, and offset carbon emissions equivalent to planting 84 million trees.
Liu Jingqi, Chairman of EliTe Solar stated, "The launch of the Egypt project not only demonstrates our expertise in technological innovation and industry integration but also underscores EliTe Solar's mission to lead global renewable energy development. Together with our partners, we are building a greener future and setting new benchmarks for the global energy transition."
Since its inception, EliTe Solar has established several manufacturing hubs in countries including Vietnam, Indonesia, and Egypt, thus solidifying its international industrial presence. Moving forward, EliTe Solar will continue driving energy transformation through high-quality technology exports, further contributing to global sustainable development.
About EliTe Solar
Founded in 2005, EliTe Solar is committed to becoming a leading global supplier of photovoltaic systems by enhancing customer service, driving customer success, and boosting profitability. EliTe Solar has a proven track record of delivering over 10GW of solar modules globally. We provide intelligent solar solutions for utilities, commercial and industrial clients, and residential customers worldwide. Our approach centers on optimizing the Levelized Cost of Energy (LCOE) to maximize value while minimizing risk, empowering our customers to gain a competitive edge in the global market. With a strong brand presence and large-scale manufacturing capabilities, EliTe Solar has built a fully integrated business model-from silicon wafers and cells to modules-advancing vertical integration in the photovoltaic industry. Discover more about our offerings at www.elite-solar.com.
