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Turbo Energy S.A. (NASDAQ: TURB) Signs Distribution Agreement with El Corte Ingles

  • The European Union recently signed its inaugural ‘European Solar Charter’, aimed at driving the growth of the continent’s solar industry
  • Turbo Energy has emerged as one of the leading companies within the European solar supply chain, with its array of residential and industrial energy storage solutions
  • The company recently revealed that its range of ‘GoSolar’ residential solar energy solutions would be distributed by El Corte Ingles, Europe’s largest department store chain
  • Turbo Energy also announced its FY2023 financial results, revealing FY23 revenues of USD 14.54 million

The European Commission and representatives of the continent’s solar energy parts manufacturers came together on April 15th to sign a charter, aimed towards achieving resilient within the European Union’s solar value chain and help meet the bloc’s renewable energy targets ( A key element of the European Solar Charter signed by 23 of the 27 EUR countries, signaled a commitment from the signatory governments to realize the pending Net-Zero Industry Act (“NZIA”), legislation which will aim to ensure that the EU will have the manufacturing capacity for renewable technologies, including photovoltaics, nears 40 percent of annual deployment needs by 2030.

The European Union sourced 23 percent of its energy needs from renewable sources in 2022, largely driven by solar energy; nevertheless, that proportion seems likely to increase dramatically in upcoming years. The EU has set a new target of sourcing 42.5 percent of its energy needs from…

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