Elite Solar breaks ground on USD 150 mn solar panel factory in TEDA

Elite Solar broke ground on its USD 150 mn solar panel factory in the TEDA zone in Ain Sokhna, according to a statement. The 78k sqm facility will produce N-type solar cells and assemble “Module-Cell-Wafer” photovoltaic systems with a 2 GW production capacity. The first phase is slated for a September 2025 beginning.

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We knew this was coming: Elite Solar signed an agreement to set up the factory as part of a slew of agreements slated for the TEDA trade zone signed during the Forum on China-Africa Cooperation back in September. Other agreements made at the forum include a USD 300 mn plant to produce flat and PV glass in Egypt by China Glass, and a USD 500 mn green chemicals facility by Befar Group that will utilize renewables and low-carbon sources of energy.