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-Ahramreported 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.

Egypt in 2014 announced extensive plans to develop renewable energy targeting 4.3 GW of wind and solar projectsto be installed over three years, but many investors pulled out following contract disputes.