Memorandum of Understanding between the government and Smart Solar Technologies AD provides support for a solar panel and cell factory

The Council of Ministers approved a Memorandum of Understanding between the Government of the Republic of Bulgaria and "Smart Solar Technologies" AD for the implementation of the priority investment project "Factory for the production of solar panels and cells".

The project will be implemented in the village of Elenino, Stara Zagora municipality. With the decision, an interdepartmental working group is also created to ensure institutional support in the implementation of the investment, according to a press release of the Council of Ministers.

The project of "Smart Solar Technologies" AD envisages the construction of a new factory for the production of solar panels and cells. The amount of the investment, as long-term tangible and intangible assets, amounts to BGN 240,000,000. It is planned to create 812 new jobs.

The production produced in the enterprise will be mainly intended for export to the European markets - in Germany, the Netherlands, Italy and Austria.

The investment will contribute to the development of the municipality of Stara Zagora by generating sustainable employment, increasing local economic activity and improving the well-being of the population.

Priority is given to investment projects that are particularly significant for the economic development of the Republic of Bulgaria or for the regions of the country in accordance with the Investment Promotion Act. The investment promotion policy is implemented by the Ministry of Innovation and Growth.