German investor to build EUR 1 bln PV panel factory in Romania

German company AE Solar plans to build a PV panel production facility in Romania, with the first stage of the project scheduled for completion this year, under a EUR 1 bln project, the Government of Romania announced on March 6, after prime minister Nicolae Ciuca met representatives of the investor.

The capacity of the plant is designed at 2GW (per year) in the first stage to further reach 10 GW – the equivalent of one-third of the European market’s demand, according to the Government’s press release.

The Government promised to evaluate sources from the national or European Union budget to support the investment with a grant.

Founded in 2003 and headquartered in Königsbrunn (Germany), AE Solar has an annual production capacity of 2.5 GW in its plants located in Europe and Asia, also with subsidiaries in Mexico (since 2017), Brazil (since 2018) and Saudi Arabia (since 2018), Profit.ro reported. It also has sales teams in Georgia, Germany, Turkey, China, Mexico, Brazil, and Saudi Arabia.

AE Solar operates in 95 countries. It is 65% controlled by the German company AE Invest GmbH, with the remaining 35% going to Chin hope Co Ltd (Taiwan).

(Photo source: Gov.ro)