Bulgaria: Stara Zagora Secures 240 Million Leva Investment for Solar Panel Production Plant

The Bulgarian Council of Ministers has approved a Memorandum of Understanding with Smart Solar Technologies JSC for a major investment project. The agreement will see the establishment of a new factory for the production of solar panels and cells in the village of Elenino, within the Stara Zagora municipality. The total investment for the project is set at 240 million leva, covering both tangible and intangible assets.

The new facility is expected to create 812 jobs and will primarily focus on producing solar panels and cells for export to European markets including Germany, the Netherlands, Italy, and Austria. To support the implementation of this project, an interdepartmental working group will be established.

This investment is anticipated to boost economic activity in Stara Zagora, generate sustainable employment, and enhance the local community's well-being. The project aligns with Bulgaria's investment promotion policy, which prioritizes significant contributions to the country's economic development.

In addition to the solar panel factory, another planned investment involves constructing a high-tech production facility for specialized military equipment in the municipality of Simitli. This project, located on a 152,964 square meter industrial plot, is expected to begin with an initial investment of 5 million leva.