Ministry of Military Production to set up $ 2bn solar photovoltaic plant

The Ministry of Military Production intends to establish a solar photovoltaic plant in cooperation with Chinese TBEA Sun Oasis in Aswan with a production capacity of 1,000 megawatts annually. The production will be divided into two phases with 500 megawatts per stage.

An official source told Al-Mal newspaper that the total investment of the project exceeds $ 2 billion, adding that the project will be established in partnership between the two sides, up to 51% for Ministry of Military Production, and 49% for the Chinese company.

It pointed out that the implementation period of the project from two and a half to three years, starting in 2018, after the completion of funding, either through the participation of Egyptian banks, Arab funds, or through the Chinese company’s full finance of the project in.

The project consultant, the German company Fraenhofer, has completed the feasibility studies which indicated that it is best to start assembling the solar cells in Egypt, as a first stage, then manufacturing parts of the cells as a second stage, and then completing the manufacturing of solar cells in Egypt in 4 stages.