UAE firm joins solar partnership in Egypt with $220m investment

UAE-based Global South Utilities (GSU) has joined forces with Egypt's AH Industrial Management, China’s JA Solar and Bahrain's Infinity Capital to develop an integrated solar industrial complex, in a deal worth $220 million (approximately Dhs810 million).

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GSU, part of Abu Dhabi’s Resources investment, said the project will create one of the region's largest renewable energy manufacturing hubs and reflects the UAE's leadership in driving the green transition across the Middle East and Africa.

The “Atum Solar Egypt” project in Ain Sokhna (TEDA) will cover 200,000 square metres and include a 2 GW solar cells factory for exports, and a 2 GW solar modules factory to serve Egypt and Africa to support reliable, clean power.

Implementation will take up to three years from construction to full operation, generating more than 800 direct jobs and gradually increasing reliance on Egyptian inputs such as aluminium and glass.

Egyptian Prime Minister Mostafa Madbouly witnessed the signing on Wednesday, alongside Deputy Prime Minister and Minister of Transport and Industry, Lieutenant General Kamel Al Wazir, and Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone Authority.

The agreement was signed by Ali Alshimmari of GSU, Cao Hui, Executive Director of Egypt-TEDA SEZone Development Company, and Ahmed Abou Hashima, Chairman of AH Industrial Management and Co-founder of Atum Solar Egypt.