Image: Luba Ertel, Unsplash
The Council of Ministers of Bulgaria signed an settlement with Turkey’s Smart Solar Technologies AD for the development of a brand new photo voltaic cell and panel manufacturing facility.
The firm will construct the manufacturing facility within the village of Elenino in southern Bulgaria, creating 812 new jobs. The authorities has designated the mission as a precedence funding, and an inter-agency working group will oversee its growth.
According to the federal government’s press heart, many of the manufacturing will probably be exported to European markets, together with Austria, the Netherlands, Germany, and Italy.
Under the phrases of the settlement, Smart Solar Technologies will make investments BGN 240 million ($137 million) in intangible and stuck property. The firm mentioned in an announcement on social media that the funding will probably be supported by a €34 million ($38 million) grant.
According to the corporate’s web site, Smart Solar Technology presently has 2.9 GW of photo voltaic module manufacturing capability and is exported to greater than 19 nations.
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