By Abdullahi Lukman
Egypt has signed a $700 million investment agreement to localize the production of renewable energy components, strengthening its position in the global clean energy supply chain and advancing its green transition.
The partnership, involving the Egyptian government, GCL Group, and Kemet Industries, will establish advanced facilities to manufacture solar panels and key raw materials locally.
The move is expected to reduce reliance on imported technology, cut costs tied to global supply disruptions, and support the country’s growing renewable energy capacity.
Local production will also create thousands of skilled jobs and expand opportunities for Egyptian engineers and technicians in clean technology manufacturing.
By anchoring industrial development to renewable energy growth, Egypt aims to retain more economic value from its shift toward low-carbon power.
The project supports national renewable energy targets and builds on large-scale developments such as the Benban Solar Park.
Officials say domestic manufacturing will help make future solar projects more affordable while accelerating deployment across residential and industrial sectors.
The Suez Canal Economic Zone is set to play a central role, offering export access to European and African markets where demand for renewable infrastructure continues to rise.
Egypt’s location and logistics capacity position it as a gateway for green manufacturing and trade.
The agreement reflects a broader strategy to link climate action with industrial growth, signaling Egypt’s ambition to become a regional hub for clean energy manufacturing as global demand for sustainable technologies increases.
