[Solar: National Bank of Egypt Takes 20% Stake in Scatec’s 1.1 GW Obelisk]

GlobalData analysts report that solar energy is now the dominant driver of Egypt’s power sector. The shift is accelerated by aggressive tariff reforms, including an August 2024 price hike of up to 46% for commercial users and 40% for residents. These increases have significantly enhanced the economics of self-generation for energy-intensive industries, factories, and resorts. While utility-scale projects are expected to maintain over 60% market share, the C&I segment is rapidly gaining momentum, with the two segments combined projected to represent 98–99% of Egypt's total solar market in the coming years.

Egyptian company Kemet recently finalized three landmark agreements with Chinese partners to localize solar manufacturing. The deal includes a $500 million integrated complex for 5 GW of solar cells and modules, a 5 GWh BESS factory ($200M investment), and the establishment of Egypt’s first-ever solar inverter plant. These initiatives, alongside the 2 GW ATUM Solar complex currently under construction, aim to reduce import dependency and support Egypt’s goal of reaching 42% renewable energy by 2030 through a robust domestic supply chain.

Zhitong Finance APP learned that Guotai Haitong released a research report stating that policy signals drove industry chain prices to stop falling and stabilize, with bottom support for the industry gradually solidifying. Meanwhile, measures such as energy consumption constraints clearing outdated capacity, technology grading, and patent pool construction are pushing the industry from price wars toward technology and quality competition. In addition, space PV, as an important catalyst for sector performance this year, opens up entirely new application scenarios and growth potential for the PV industry. Overall, with policy support and new scenario catalysts resonating together, the industry's upward trend is clear, and sector allocation opportunities deserve attention.