Altius Fotovoltaic, solar panel manufacturer, expects a RON 16 million (EUR 3.6 million) revenue for this year, half of which generated by exports, and is in talks with partners to open a production facility in Africa or the Middle East, Ziarul Financiar reported. The company is part of Bomax group, which invests in real estate development and energy.
Ion Murgescu, Altius Fotovoltaic’s chief executive, said it would be a sin not to expand the business and that the company is in talks to build factories in Africa. The enterprise generally looks at countries where the government encourages investment and energy prices are good, he said.
Altius opened a solar panel factory in Giurgiu Free Zone in 2013. It invested EUR 8 million in the facility, only unit of its kind in Romania. Although there were attempts by companies Renovatio and Siliken to enter this market, their projects did not survive.