- The government of Egypt is said to be discussing with Chinese companies a plan to construct an industrial complex in the country.
- The required investments for the project are estimated at USD 2.3 billion.
The government of Egypt is said to be discussing with Chinese companies a plan to construct an industrial complex in the country. The complex is expected to be able to produce 1 GW of solar power components, according to news agency Asharq. The required investments for the project are estimated at USD 2.3 billion; the report says while citing four government sources.
The involved parties in the discussion are talking about potential financing of the facility through a loan that is to be provided by Chinese banks and repaid by the government of Egypt over a certain period, one of the sources informed Asharq.
The reported plan for local production comes amid growing concerns about the fate of solar projects in Egypt against the background of an acute lack of components. On Sunday, the Solar Energy Development Association (SEDA), which supports the solar energy market in Egypt, warned that the shortage of equipment such as solar cells, transformers, solar heaters, and cables is putting the realisation of projects across the country at risk.