Bulgarian co Solar Panel plans 200-MW factory

Bulgaria-based Solar Panel EOOD plans to build a new solar module manufacturing plant with an annual capacity of 200 MW in the northeastern part of the country.

The plant will be situated in the town of Omurtag in Targovishte district and it is expected to create 45 new jobs.

The project is estimated at BGN 7.35 million (USD 4m/EUR 3.8m) and envisages the purchase of modern machinery and equipment necessary for the production process. The facility will be equipped with a warehouse for raw materials, a production site, a finished product storehouse and an administrative section.

The news about the new production capacity broke at a ceremony held by the Bulgarian Ministry of Innovation and Growth where Solar Panel was presented with a Class A certificate for investment projects issued under the Investment Promotion Act.

The company noted in the statement released by the ministry on Monday that it decided on the initiative due to the rapid development of renewable energy production.

(BGN 1 = USD 0.555/EUR 0.511)

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