September 15 (SeeNews) - Germany's AE Solar and North Macedonia's PiKCELL Group plan to invest jointly in the construction of a factory for photovoltaic panels in Tetovo, PiKCELL said.
The investment in the Technological Industrial Development Zone (TIDZ) Tetovo will open around 200 jobs, PiKCELL Group said in a Facebook post on Tuesday.
The construction works are scheduled to start next month and the factory will commence operations in March.
"According to information, the produced panels will be multi-junction, the latest technology with 23% effectiveness. The production capacity of the panels will be 1GW/h," the company said.
A SeeNews e-mail to PiKCELL seeking financial details of the planned investment went unanswered by the time of publishing this article.
PiKCELL Group is a high-tech company for the production and development of photovoltaic solar and thermal modules.
AE Solar was founded in Konigsbrunn in 2003, according to its LinkedIn profile. The company owns the biggest manufacturing unit under one roof in Europe, located in Georgia, with more than 1 GW of manufacturing capacity.
Last year, AE Solar announced that it will invest 150 million euro ($150.1 million) in 2022 in the construction of a factory for solar panels near the Bulgarian city of Plovdiv.