Image: Luba Ertel, Unsplash
The Bulgarian Council of Ministers has signed an agreement with the Turkish Smart Solar Technologies AD for the construction of a new solar cell and panel factory.
The company will build the production facility in the village of Elenino in southern Bulgaria, creating 812 new jobs. The government has identified the project as a priority investment, and a multi-agency working group will oversee its development.
According to the government press center, most of the production will be exported to European markets including Austria, the Netherlands, Germany and Italy.
Under the terms of the agreement, Smart Solar Technologies will invest BGN 240 million ($137 million) in intangible and fixed tangible assets. The company said in a statement on social media that the investment will be supported by a €34 million ($38 million) grant.
According to the company’s website, Smart Solar Technology currently has a solar panel production capacity of 2.9 GW and exports to more than 19 countries.
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