March 7 (SeeNews) - US-based International Armored Group (IAG) plans to invest 2 million levs ($1.1 million/1.02 million euro) in a rooftop solar installation with a capacity of 1.2 MW at its planned armoured vehicles plant in Bulgaria, the company told SeeNews on Tuesday.
The investment will cover the installation of solar panels over an area of 10,000 sq m, the company said in an emailed statement in response to a SeeNews enquiry.
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IAG also said that the electricity generated by the solar array will meet 55% of the company's consumption needs on sunny days in the summer season, according to preliminary estimates. There is no confirmed commissioning date at present and the decision on the choice of supplier is yet to be made, IAG added.
Last month, IAG said it will start building on March 15 a new plant in the industrial zone of the coastal city of Burgas. The plant will be the first facility in Bulgaria to manufacture armoured vehicles to NATO standards, including IAG's new Rila 8x8 armoured vehicle for use by ground forces.
(1 euro = 1.95583 levs)