Singapore-based US firm commissions solar panel factory in Egypt

Singapore headquartered American firm Elite Solar has started production of solar panels at its new factory in Egypt. The facility is located in the Suez Canal Economic Zone (SCZone), which spans more than 460km² across the eastern and western banks of the shipping lane. Leveraging the SCZone’s favourable geographic location and incentives for export-oriented businesses, Elite plans to ship its solar panels to countries across the Middle East, Africa, Europe, and North America, in addition to catering to the Egyptian market. The Ain Sokhna facility is a key component of the firm’s international growth strategy that pairs US technology with localised manufacturing. According to CEO Arndt Lutz this approach enables the firm to respond efficiently to customer demand across the Middle East, Africa, Europe, and North America (MENA).

The production lines include 2GW of solar cell capacity and 3GW of solar module production to supply utility, commercial, and industrial clients. The manufacturing process begins by purifying raw silicon and melting it into solid blocks, which are sliced into thin wafers. These wafers are treated to become solar cells, which convert sunlight into electricity. The cells are then assembled into modules, the finished panels used at solar farms.

When Elite first announced the Egypt facility in 2024, the company outlined plans to eventually scale production to 8GW. At full capacity, the plant is projected to generate over US$190m in annual sales. This expansion complements the company’s existing manufacturing bases in Indonesia and Vietnam.

The solar PV sector is a key focus for the SCZone. Businesses in the zone benefit from access to six seaports and a suite of fiscal incentives, including 0% customs duties on imported project equipment and re-exports, alongside value-added tax exemptions on raw materials. Furthermore, companies operating in the zone are eligible for a tax deduction on net profits equivalent to 50% of their investment costs for their first seven years.

The launch of Elite Solar’s new factory follows recent high-level engagements aimed at deepening commercial ties between Egypt and Singapore. During President Tharman Shanmugaratnam’s state visit to Cairo last September, the two nations signed multiple cooperation agreements, paving the way for Singaporean organisations to expand into Egypt's maritime logistics, digitalisation, and education sectors. A cornerstone of these agreements is a project for Singaporean enterprises to digitalise West Port Said – situated at the northern entrance of the Suez Canal – and transform it into a smart port modelled after Singapore’s own. Building on this momentum, Singapore’s Ambassador to Cairo, Dominic Goh, met with Mohamed El-Gawsaky, the CEO of Egypt’s General Authority of Investment and Free Zones, in February. The meeting addressed further collaboration across logistics, food security, clean energy, urban development, and digital infrastructure.

References

‘Elite Solar to establish 8 GW solar manufacturing hub in Egypt’, Elite Solar, 10 September 2024

'LinkedIn post', Elite Solar, 18 December 2024

'Singapore to assist Egypt to digitalise port after talks between presidents Tharman and Sisi', The Straits Times, 23 September 2025

'Elite Solar commissions 5GW integrated solar manufacturing facility in Egypt, expanding global supply capacity', PR Newswire, 24 January 2026

'GAFI discusses enhancing joint investment cooperation with the ambassador of Singapore', GAFI, 12 February 2026