German investor to build EUR 1 bln PV panel factory in Romania
Source：balkangreenenergynews
From：Taiwan Trade Center, Bucharest
Update Time：2023/03/29
AE Solar to build 10GW module manufacturing facility in Romania
The total value of AE Solar’s investment for the 10GW module facility to be built in Romania will be €1 billion.
German manufacturer AE Solar plans to build a module manufacturing plant with a 10GW annual capacity in Romania.
In the first phase, the company would set up a 2GW production capacity, which could be completed later this year, according to the Romanian Government.
The factory will require an investment of €1 billion (US$ 1.06 billion), with the Government looking into to unlock European funding or state aid to support the construction of the project.
Upon completion of the project and full integration of the production flow, the facility would reach an annual capacity of 10GW, representing a third of the European Commission’s (EC) goal to reach 30GW of European manufacturing capacity by 2025 across the entire value chain.
Since the EC unveiled its Green Deal Industrial Plan to boost the domestic renewable manufacturing industry other companies have announced plans to build a production plant for solar panels in Europe, including utility Iberdrola and Spanish manufacturer Exiom with a 500MW tunnel oxide passivated contact (TOPCon) facility in Spain planned for this year.
The company uses different technologies for the production of its solar panels, including heterojunction and TOPCon. However, AE Solar did not provide any further information when PV Tech reached out about the announcement.
“This investment will place Romania at the center of the European production of solar panels, contributing substantially not only to energy independence, but also to protecting the environment, by using renewable, clean energy for the production of electricity,” said Romanian Prime Minister, Nicolae-Ionel Ciucă.
Moreover, the European Commission recently approved a €259 million scheme by the Romanian Government aimed to support investments in solar PV cells and panels in Romania.
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).
Source: https://balkangreenenergynews.com