The Bulgarian Council of Ministers this week approved a Memorandum of Understanding with Smart Solar Technologies, one of the most innovative solar technology companies in the world, for a significant investment project that will see the construction of a new factory for the production of solar panels and cells in the village of Elenino, located in Stara Zagora municipality.
The total investment for the project is 240 million leva, around 122.9 million euros.
The new facility is expected to create 812 jobs and will primarily focus on manufacturing solar panels and cells for export to European markets, including Germany, the Netherlands, Italy, and Austria.
This investment is anticipated to stimulate economic activity in Stara Zagora, generate sustainable employment, and improve the well-being of the local community. It aligns with Bulgaria’s investment promotion policy, which emphasises substantial contributions to the country’s economic development.
In addition to the solar panel factory, another proposed investment includes the construction of a high-tech production facility for specialised military equipment in the municipality of Simitli.
Situated on a 152,964-square-metre industrial plot, this project is set to begin with an initial investment of five million leva (2.56 million euros).
This content was produced in collaboration with the municipality of Stara Zagora and the European Commission’s Directorate General for Structural Reform Support.
