Solar Panels To Be Produced In Lithuania
Construction of a solar energy technology research and manufacturing center was officially launched at the Visoriai Technology Park in Vilnius on Wednesday. The two key companies behind this project are BOD Group and UAB ViaSolis. Total business investment in the development of this center will be LTL150 million (more than EUR40 million) over the next three years, one third of which will be financed by the European Union. Once completed, the solar energy technology research and manufacturing center will become a leading institution of solar cell research and solar panel production in Lithuania.
According to the estimate numbers, the turnover of solar panel production should reach LTL415 million (EUR120 million) by 2015, of which exports will make more than 95 percent. It is expected that in 2016-2018 the total turnover in the new technology cluster will reached LTL1.6 billion (EUR460 million) and the cluster will prompt the creation of at least 500 new jobs.
The recent study by Lithuanian Energy Institute has shown that in theory up to 11.2 gigawatt hours of solar energy could be produced in the country by 2020, which would make 0.3 percent of all electricity consumed in
Source: Ministry of Economy, Ministry of Energy
