EliTe Solar Boda New Energy Signs Egypt Project: Promoting the Rise of New Energy Industry in the Middle East

Source: EliTe Solar Boda New Energy Public Number

On September 6, 2024, EliTe Solar Boda New Energy (hereinafter referred to as "Boda") held talks with the chairman of the General Administration of the Suez Canal Economic Zone of Egypt (hereinafter referred to as the "General Administration of the Special Zone") in Beijing. In the afternoon of the same day, witnessed by Egyptian Prime Minister Madbouli, Chairman of the General Administration of the Special Administrative Region Walid Jamaluddin, and Teda Holdings Chairman Qu Defu, formally signed an agreement to announce its major investment projects in Egypt. The project is expected to have a total investment of more than US $0.15 billion and a planned area of 78000 square meters. It will be constructed in two phases and is committed to becoming a key engine for the new energy industry in the Middle East.

The first phase of the project is scheduled to reach production in September 2025, with a 2GW solar cell production line, and annual sales are expected to reach $0.19 billion. The project is not only an important part of Boda's global strategic layout, but also regarded as an important driving force for profit growth in the Middle East.

Liu Jingqi, chairman of Boda Xinneng, said that in the future, a production base with a total production capacity of 8GW will be built in the Middle East to further enhance the market competitiveness of the region. The project will introduce advanced manufacturing technology and optimize the local supply chain in Egypt to improve the overall manufacturing level. Boda plans to build the project into a benchmark for Egyptian manufacturing enterprises through high-standard production technology and management mode, and promote the modernization of the photovoltaic industry.

In addition, the project will strive to meet the growing energy demand in Egypt and promote the popularization of photovoltaic applications in China. With the advantages of large-scale production and leading technology, Boda New Energy will help Egypt become an important photovoltaic manufacturing center in the Middle East and North Africa, enhance its export capacity and economic influence in the global market, and consolidate its position in the international new energy field.

The project is located in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone. This cooperation zone is a national-level overseas economic and trade cooperation zone approved by the Chinese government. It has become an important platform for China-Egypt economic and trade cooperation and has received great attention from the leaders of the two countries. And support. EliTe Solar's investment demonstrates its ambition to lead change in the global new energy market and continues to provide efficient and sustainable photovoltaic solutions to help the global energy transformation.

EliTe Solar Boda New Energy

EliTe Solar Boda was established in 2005 and is committed to becoming the world's leading supplier of photovoltaic systems, focusing on improving customer service and experience, and improving customer success rate and profitability.

Through continuous innovation in product technology, customized financial solutions and service systems, Boda New can provide intelligent solar solutions for global utilities, industrial, commercial and residential customers. Boda New Energy maximizes value and minimizes risk by optimizing energy costs (LCOE) to help customers gain a competitive advantage in the global market. Headquartered in Singapore, the company has manufacturing plants in Vietnam, Indonesia and the Middle East, and its global strategic layout is steadily advancing. With brand influence and large-scale manufacturing of two-wheel drive, Boda New Energy has established a complete business segment from silicon wafers, batteries to modules to promote the vertical integration of the photovoltaic industry.

Adhering to the concept of sustainable development and the pursuit of excellence, Boda New Energy continues to innovate and cooperate with global customers to provide reliable and efficient solar energy solutions to promote the global green energy transformation.

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