Germany's AE Solar to invest 150 mln euro in solar panel factory in Bulgaria

Germany-based renewable energy company AE Solar will invest 150 million euro ($169.0 million) in the construction of a factory for solar panels near the Bulgarian city of Plovdiv in 2022, Bulgarian energy minister Aleksandar Nikolov said.

AE Solar will be part of a joint venture of three companies that will implement the project, Nikolov said in a video file published on the website of public television BNT on Tuesday, without disclosing the names of the other members of the consortium.

The investor plans production of 1 GW of solar panel capacity per year at the factory, starting in 2022. The new plant, to be located in Trakia Economic Zone near Plovdiv, will include a research and development (R&D) centre and a carbon-neutral industrial park, Nikolov added.

AE Solar was founded in Konigsbrunn in 2003, according to its LinkedIn profile,. The company owns the biggest manufacturing unit under one roof in Europe, located in Georgia, with more than 1 GW of total manufacturing capacity.

($ = 0.887405 euro)

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