site.btaEUR 240 Mln Solar Plant to Bring 812 New Jobs to Stara Zagora with State Support

Innovation and Growth Minister Rosen Karadimov presented a priority investment project certificate for a Solar Panel and Cell Manufacturing Plant to a company investing BGN 240 million and creating 812 jobs, the Innovation and Growth Ministry said on Friday. The company, Smart Solar Technologies, aims to boost the local economy in Stara Zagora Region, with State support secured under the Investment Promotion Act. "We managed to secure State support under the Investment Promotion Act for this significant investment in Stara Zagora Region," Karadimov said.

Deputy Ministers Krasimir Yakimov and Veselina Mincheva, Turkish Ambassador Mehmet Uyanik, and Halil Demirdag, the main shareholder and Chair of the Board of Directors of Smart Solar Technologies, attended the ceremony at the Ministry, accompanied by the company’s management. InvestBulgaria Agency Executive Director Mila Nenova and Chair of the Supervisory Board of the Bulgarian Development Bank Delyana Ivanova also attended.

The new solar panel and cell manufacturing plant will be built in the village of Elenino, Stara Zagora Municipality, within the Zagore Industrial Zone. "This, along with ten other industrial parks in the country, is funded with BGN 14 million under the Ministry of Innovation and Growth's procedure as part of the Recovery and Resilience Plan," Karadimov said.

Two separate high-tech production lines are set to be established at the factory near Stara Zagora. The investment project includes the construction of a manufacturing base and administrative buildings. All structures are designed to be energy-efficient, environmentally friendly, and produce zero gas emissions during manufacturing. The products are intended for European markets, primarily in Germany, the Netherlands, and Italy.

Ambassador Uyanik thanked the government and the Ministry of Innovation and Growth for backing the investment of Smart Solar Technologies. "We take pride in this investment, as it provides a strong social and economic benefit for Stara Zagora Region. It sets a positive example for Turkish companies, and we will keep promoting Turkish investments in Bulgaria," Uyanik said.

Smart Solar Technologies is a public limited company primarily owned by SMART GÜNEŞ ENERJİSİ TEKNOLOJİLERİ ARGE ÜRETİM SAN. VE TİC. A.Ş., based in Turkiye. The main shareholder has significant experience in manufacturing solar panels and cells, as well as in building solar parks in Turkiye and more than 27 European countries. The company ranks among the largest suppliers of solar panels in Europe.