The Bulgarian company AE Solar Horizon to open factory for solar panels

Bulgarian company AE Solar Horizon part of Germany-based AE Solar plans to build a factory for solar photovoltaic panels in Kyustendil investing over BGN 20 million (€10.2 million). The company has requested permission to acquire a plot of 50,000 square meters in the Zhilenci industrial zone where it plans to build a plant for photovoltaic panels with a total capacity of 1,000 MW per year.

AE Solar Horizon will provide the municipality with 100 kilowatts of solar panels per year which is over 12% of its investment in the plot. The company offers to place and install solar panels on all municipal buildings in the city to power them with green energy.

In October 2022, the Bulgarian company raised 3.5 million euros to build factories for the production of solar photovoltaic panels in Bulgaria, Greece and North Macedonia. Its plans are even bigger: AE Solar Horizon will aim to raise 100 million euros by the end of 2023 and is already in talks with a number of European stock exchanges about a possible future initial public offering (IPO).

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