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Tuesday, 29 December 2020

A USD 2 bn zombie project revived?

Enara Energy has signed an agreement with Chinese PV solar panel maker Chint Electric to partner on developing a sand-to-cell PV panel factory in Egypt, Enara’s head of project development Mohamed Adel reportedly told the local press. Adel provides no detail on the project, its size or costs. Enara and Chint representatives had reportedly met with Military Production Minister Mohamed Ahmed Morsi last month to discuss moving forward with the project.

It seems likely this is the Armed Forces’ USD 2 bn integrated solar panel factory, talks for which had broken down a little over two years now. Negotiations between the Military Production Ministry and China’s Golden Concord Group (GCL) over the factory had halted after GCL wanted the ministry to sign an offtake agreement to purchase the factory’s full output.

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