SDSM denied allegations raised by VMRO-DPMNE today, after the opposition party revealed that the solar panel company co-founded by Prime Minister and SDSM leader Dimitar Kovacevski is raking in tens of millions of euros in public contracts and grants.

Dimitar Kovacevski is not part of the ownership structure of Pikcell group. He fully withdrew his financial stake in the initial liquidity of the company on September 28th 2020, when he fully dedicated to his role as Deputy Finance Minister, the ruling party said in a statement.

The company that continues to be led by Kovacevski’s former partner and best man Goran Paunov, received major contracts from a partially state owned energy company, from various municipalities, and is looking to receive huge subsidies to build a solar panel factory – whose revenue is likely going to depend on “green” programs favored by Kovacevski.