On August 21, the Bulgarian Council of Ministers approved a memorandum of understanding (MoU) with Smart Solar Technologies AD for a major investment in a new solar cell and panel manufacturing facility. The project, valued at BGN 240 million (USD 137 million/EUR 123 million), will be located in Elenino, a village in the southern province of Stara Zagora.
The new factory aims to produce solar photovoltaic (PV) cells and modules primarily for export to key European markets including Germany, the Netherlands, Italy, and Austria. The council’s approval also facilitates the formation of an interdepartmental working group to support this high-priority investment project.
This initiative is expected to create 812 new jobs and is seen as a significant boost for the local economy, driving sustainable employment and enhancing domestic economic activity. Smart Solar Technologies, founded by Turkish businessman Halil Demirdag, is behind the project.
