Singapore-headquartered manufacturer EliTe Solar has announced plans to build an 8GW cell and module manufacturing facility in the Suez Canal Economic Zone (SCZONE) in Egypt.
EliTe Solar plans to commission the project in two phases, with the first phase, which will build a 2GW cell production facility, to be completed by September 2025. While the company did not announce a timeline for the second phase of development, it noted that, once the facility is producing its full compliment of cells and modules, it would generate annual sales of over US$190 million, offsetting the company’s US$150 million investment into the project.
