March 7 (SeeNews) - Germany's AE Solar plans to build a 1 billion euro ($1.06 billion) solar panels plant in Romania, the government said.
The plant's capacity will be 2 GW of solar panels upon the completion of the first stage of the project later this year, to grow to 10 GW upon the completion of the project, the government said in a press release on Monday.
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The government will study the opportunities to support the project with budget financing or European funds, it added.
AE Solar is a German solar panels manufacturer, established in 2003. The company owns production plants in Europe and Asia and is present in more than a hundred countries. It employs some 1,200, according to its website.
($=0.9378 euro)