Issue 2, 2019. April-May

   

SOLAR PANELS TO BE PRODUCED AT KUTAISI FREE ZONE

A German investor is planning to start producing solar panels in Georgia in April

Lika Jorjoliani

German AE Solar Georgia plans to start production of solar panels in April, the company's general director, Durbek Fattakhov, told Investor.ge.

In the initial phase 200 people will be employed at the factory; eventually there will be as many as 350 employees.

AE Solar Georgia will export the panels to the US, the Middle East, Europe and other regions, he said.

The first panels will be exported to Thailand, Mexico and the US, Fattakhov said.

"We are planning on opening a training facility in the middle of the year, where our distributors and specialists will be trained how to install and operate solar stations. We have a lot of plans and, over the next two years, we plan to invest around $100 million in the production of solar cells for solar modules," he said.

Fattakhov said the company chose Georgia because "it is very convenient in terms of logistics," since there is sea access and the company can use the trade agreement with the US and the EU to export their goods under more favorable terms as more than 40 percent of the production will take place in Georgia.

He added that the production costs are about half what the company was paying to produce its goods in China.

AE Solar was established in Germany in 2003.

It became interested in opening a production facility in Georgia in 2016, after meeting with the Georgian economy minister and learning about the "Made in Georgia" program.

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