The Egyptian Ministry of Military Production signed a $2 billion investment agreement with Chinese green energy supplier Golden Concord, Ltd. (GCL) to build a solar panel manufacturing facility in Egypt, state-run MENA news agency reported.

 

The Chinese company will supply Egypt with the know-how to manufacture solar panels according international standards and will provide training to Egyptian technicians for work in the 5 gigawatt-per-year facility.

 

The Egyptian government and GCL will also cooperate on research and development, Minister Mohamed El-Assar said.

 

Egypt aims to obtain 22 percent of its total energy production from renewable sources by 2020.