EliTe Solar has announced investment plans to build an 8 GW solar manufacturing hub in Egypt’s Suez Special Economic Zone. The facility will focus on producing high-efficiency solar cells and module assembly, with a substantial share of the output exported to key markets, including US.
Furthermore, the project is valued at over $150 million and will span 78,000 square metres and be completed in two phases. The initial phase which is expected to finish by September 2025, will establish a 2 GW solar cell production line. Upon full operation, annual sales are projected to exceed $190 million.
EliTe Solar is a solar photovoltaic company that provides tailored solar solutions for utility, commercial, and industrial clients globally. It is headquartered in Singapore and has existing manufacturing bases in Indonesia and Vietnam. The company was established in 2005 and has delivered 10 GW modules till date globally.
REGlobal’s Views: EliTe Solar already has manufacturing facilities in Indonesia and Vietnam, and this new facility in Middle East will help the company to expand its reach across the large and still highly untapped Middle East solar market. Further, as the project is coming up in Egypt, the location is ideal for transport of produced solar products to the large markets in Europe and North America.
