Smart Solar Technologies is investing 120 million euros in a solar cell and panel plant in Zagore – Elenino Industrial Zone, Bulgaria

Smart Solar Technologies strengthens its position as a leading investor in the Zagore–Elenino Industrial Zone, being set to host a large-scale facility for the production of solar panels and cells, the company informed BalkanEngineer.com. The investment is worth 120 million euros and is expected to create 800 new positions.

On the 17^th of July this year, the new infrastructure for the Zagore–Elenino Industrial Zone was announced, and the site functions as planned. The event is seen as a significant step forward for the development of economic activity throughout the region surrounding Stara Zagora.

Smart Solar Technologies plays a key role in the zone’s new phase, by investing 120 million euros in the construction of a modern factory, to produce solar panels and cells. The project has been categorized as a priority investment, additionally it is the first project in the country to be supported by a direct state subsidy—amounting to nearly 31 million euros—under the Investment Promotion Act. It will open over 800 new jobs and transform the enterprise into a significant exporter to EU markets.

Currently, the total value of investment intentions in the zone exceeds 300 million euros, and modern environmental infrastructure has been constructed to reinforce Elenino’s image as a green industrial hub. The company expresses its gratitude to the industrial zone’s management, the Municipality of Stara Zagora, and the Ministry of Economy for the fruitful partnership, emphasizing its pride in contributing to this significant transformation in the region.

Photo source: Smart Solar Technologies, ©Engineer BG via Canva.com