Egypt, a North Africa-based country, has signed a $220 million contract with investors from the United Arab Emirates, Bahrain, and China to establish a solar manufacturing and storage complex. As per the Egyptian cabinet, the facility is to be built in the Suez Canal Economic Zone with a production capacity of 2 GW of solar cells and 2 GW of solar panels each year. The cabinet also stated that the project will include energy storage systems alongside the manufacturing units. The contract was signed on Wednesday, marking a new development in Egypt’s renewable energy sector while involving international partners from the Middle East and Asia.