Egypt has embarked on a significant renewable energy initiative with the launch of a $220 million solar energy project in collaboration with investors from China, the United Arab Emirates, and Bahrain.
The project, named AtomSolar Egypt, aims to establish an industrial complex in the Ain Sokhna industrial area, located within the Suez Canal Economic Zone.
The agreement was formalized in El Alamein, with Egyptian Prime Minister Mostafa Madbouly overseeing the signing of the land usufruct contract.
The planned facility will encompass over 200,000 square meters and is expected to produce 2 gigawatts of solar cells, 2 gigawatts of solar panels, and 1 gigawatt-hour of energy storage capacity.
Construction is slated to commence promptly, with the project projected to create approximately 841 new jobs upon completion.
This development is part of Egypt’s broader strategy to position itself as a regional hub for the green economy, leveraging its strategic location along a major global trade route.
The Suez Canal Economic Zone’s infrastructure and connectivity are seen as key assets in attracting international investment and fostering economic growth.
The AtomSolar Egypt project also aligns with Egypt’s commitment to expanding its renewable energy capacity.
In addition to this initiative, other significant projects are underway, including a 1.1-gigawatt solar and battery storage facility by Scatec ASA, and a 500-megawatt solar photovoltaic plant by AMEA Power.
These efforts collectively aim to enhance Egypt’s energy infrastructure and contribute to global sustainability goals.
The collaboration with international partners underscores Egypt’s dedication to sustainable development and its proactive approach to addressing energy demands through renewable sources.
As the project progresses, it is anticipated to play a pivotal role in Egypt’s energy transition and economic development.