Lithuania's Solitek intends solar module factory in Italy

• Lithuanian photovoltaic panel maker Solitek will certainly invest virtually EUR 50 million (USD 53.9 m) to set up a solar module manufacturing facility in Italy, it said on Monday.

The firm discussed it has chosen Italy as a result of its positive climate and growing demand for clean energy, specifically in the farming industry.

The plant in Benevento, southern Italy is anticipated to be finished in 3 years. Solitek claimed it is presently arranging technical specifics and also plans to transfer to the very first advancement stage to develop a 600-MW photovoltaic panel assembly line in the second quarter of 2024.

The firm will likewise install a 1-GW line for battery energy storage space in a second phase of the project. It will certainly create its battery called Nova, which makes use of expert system (AI) to track weather condition and also consumer behaviour to optimize energy production and storage space.

The firm, which took part in the Energy Transition Expo in Rimini last week, anticipates the manufacturing facility to create up to 300 jobs. It plans to fund it with subsidies from the European Commission as well as its very own capital.