site.btaMoU on Construction of Solar Panels, Cells Plant Approved

Bulgaria's Council of Ministers on Wednesday approved a Memorandum of Understanding between the Bulgarian Government and Smart Solar Technologies A.S. on the implementation of priority investment project for the construction of a plant for the manufacture of solar panels and cells in the Elenino Village, Stara Zagora Municipality (Southeastern Bulgaria). The decision also set up an inter-agency working group to provide institutional support upon the performance of the investment.

The Turkish company will invest BGN 240 million in tangible and intangible fixed assets, and 812 new jobs are to be created.

The plant's output will be destined for export to Germany, the Netherlands, Italy and Austria.

The investment will contribute to the development of Stara Zagora Municipality by generating sustainable employment, boosting local economic activity and improving the prosperity of the population.

The Investment Promotion Act defines priority investment projects as projects that are particularly important for Bulgaria's economic development, defence and national security or for the country's functional regions. The investment promotion policy is implemented by the Ministry of Innovation and Growth.