Egypt-based The Arab Organization for Industrialization (AOI) finalized an agreement to establish a solar panel manufacturing plant to enhance Egypt’s renewable energy sector. The collaboration involved the Arab Renewable Energy Company (ARECO), a subsidiary of AOI, and Sweden’s Sunshine Pro. The project supported Egypt’s National Strategy for Integrated and Sustainable Energy, targeting 42% renewable energy by 2030 and over 60% by 2040. The Arab Swedish Energy Factory (ASEF) was planned to produce 1 GW of solar panels annually, meeting global standards. The initiative aimed to localize technology, reduce imports, attract foreign investment, and expand export opportunities in the renewable energy market. It aligned with Egypt’s efforts to increase renewable energy capacity, reduce fossil fuel reliance, and lower carbon emissions.
AOI and Sunshine Pro established solar panel plant in Egypt
The project aligned with Egypt’s strategy to achieve 42% renewable energy by 2030 and over 60% by 2040. (Image Source: Zawya)
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