Solar installers from Baker Electric place solar panels on the roof of a residential home in California, U.S. October 14, 2016- Reuters
CAIRO - 1 September 2022: The Ministry of Electricity and Renewable Energy inaugurated, Wednesday, a solar power plant with a production capacity of 10 gigawatt-hours in the Suez Canal Economic Zone.
The project is being held inside the Jushi factory specialized in the manufacture of fiberglass in the Chinese industrial zone “TEDA” through a partnership between the Jushi factory and Inara Capital, which works in the field of renewable energy.
“There are great efforts made by the ministry and in coordination with various authorities in this regard, to implement Egypt’s strategy to reach 42 percent of the total energy from new and renewable sources by 2035,” said Electricity Minister Mohamed Shaker.
Shaker added that the state pays great attention to such projects, especially clean energy projects, and cooperation with neighboring countries in the electrical connection, especially what is currently taking place between Egypt, Greece and Italy.
The Jushi factory is the largest among Chinese investments in Egypt, as it includes three production lines with a production capacity of 200,000 tons annually and provides 2,500 jobs.
It is also one of the largest fiberglass production projects, achieving an annual production value of more than $220 million with export returns of about $200 million annually.