Egypt signs MoU with China’s GCL for $2bn solar panel factory

China’s GCL Group has signed a memorandum of understanding (MoU) with Egypt’s ministry of military production to build a solar panel facility at a cost of up to $2-billion, State-run newspaper Al-Ahram reported on Thursday. Under the MoU, which was signed on Wednesday, the facility will manufacture panels capable of producing 5 GWh a year, it said, without mentioning the location or timeframe of the project.