- Bulgaria’a Solar Panel Limited plans to develop a new solar module production fab in the country
- To be constructed in Omurtag town, it is expected to have an annual installed capacity of 200 MW
- Solar Panel will invest BGN 7.35 million in bringing the fab online in response to growing demand for renewable energy
Bulgaria’s Ministry of Innovation and Growth has announced a new solar panel manufacturing facility in the country with an annual capacity of 200 MW. It will be built by a company called Solar Panel for BGN 7.35 million ($4.1 million).
The proposed factory will be constructed in the town of Omurtag in Targovishte region that will create around 45 new jobs. According to the ministry, the company will purchase latest machinery and equipment for the fab which will also host a warehouse for raw materials along with a production workshop.
The building will also house a finished products warehouse and an administrative facility.
Bulgarian Innovation Minister Milena Stoycheva presented Class A certificates for 3 investments projects recently. The Solar Panel Ltd secured one of these certificates for its project that it says is being developed to cater to the rapid growth in renewable energy demand.
At the end of 2022, Bulgaria had around 1.95 GW cumulative installed solar PV capacity that increased by well over 600 MW annually from 1.27 GW at the end of 2021, according to the International Renewable Energy Agency (IRENA).
Under the country’s National Energy and Climate Plan (NECP), it targets to achieve 34.1% renewable energy share in gross final energy consumption by 2030. It expects to achieve this by increasing the electricity consumption from newly-built renewable energy capacities, mainly wind and solar, after 2020 by up to 4.778 GW.
Recently, the Bulgarian Energy Ministry launched a tender for new renewable energy and storage projects under its National Recovery and Resilience Plan (see Bulgaria Launches Renewable Energy & Storage Tenders).
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