Egypt’s Kemet, China’s GCL arm to build $500M solar complex
Updated 1/18/2026 9:20:00 AM
Arab Finance: Egypt-based company Kemet and the Chinese group GCL's Suzhou Weicheng signed a cooperation agreement to develop an integrated industrial complex for localizing the manufacturing of solar photovoltaic cells and modules, according to a statement.
Spanning 280,000 square meters, the complex will be established with a production capacity of 5 gigawatts (GW) at a total cost of $500 million.
The signing was witnessed by Minister of Electricity and Renewable Energy Mahmoud Esmat during his current visit to China.
The deal aims to enhance added value from local production inputs, knowledge transfer, capacity building, and technological innovation.
It comes as part of Egypt’s objectives to reinforce its position as a regional hub for renewable energy equipment manufacturing, supporting sustainable development goals and the state's plan for technology transfer and industrial localization.
Esmat lauded the ministry’s full support for such projects and partnerships, which are based on achieving mutual benefit.
He indicated that the private sector is a major contributor to renewable energy projects within the framework of Egypt’s National Energy Strategy, which targets a renewable energy share in the state's energy mix of more than 42% by 2030 and 65% by 2040.
The initiative is designed to utilize available natural resources, maximize their returns, and reduce the use of fossil fuels.
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