Todor Georgiev, Executive Director of Smart Energy Group: Following the solar boom—focus on BESS and new management models

What awaits the solar sector after years of persistent growth and what are the new projects that will be economically sustainable in the following years? For Smart Solar, part of the Smart Energy Group, the answer is already outlined – production, new solar power, storage and intelligent control of energy. It is no coincidence that one of the company’s largest projects is the factory for solar cells and panels situated near Stara Zagora, that is entering the final stage of development. For plans related to it, as well as the changes that will define the solar market over the next couple of years, we spoke with Mr. Todor Georgiev, CEO of Smart Energy Group. According to him, batteries will drive the necessary major wave of investment in the energy sector, and the economics of renewable energy projects will increasingly depend on how the generated energy is stored and managed.

Smart Energy Group announced its plans for a factory for solar cells and panels near Stara Zagora years prior. Since then, the conditions for such an investment have changed significantly, with the company carefully monitoring the change in relations between China and Europe, the global solar industry, the supply chains and the policies of the European Union. "We have very carefully analyzed the development of relations between China and Europe, as well as trends in the global solar industry. We are living in extremely dynamic and turbulent times, where decisions regarding such a large-scale industrial project must be made following a thorough analysis of the market environment, supply chains, and future European Union policies," Mr. Georgiev noted.

Now the project is entering its next stage. "The time has now come for the actual phase—the implementation of the project and the construction of the solar cell and panel manufacturing plant in Bulgaria," he added. The company expects the effect of the investment to go beyond production. The creation of the factory will draw the attention of suppliers and partners, and help generate hundreds of high qualification jobs within the region.

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