Twilight fans can now breathe a sigh of relief as The Twilight Saga: Breaking Dawn has been green-lit by Summit Entertainment!

According to sources, the fourth and final story in Stephanie Meyer’s series will be released in two parts and production will once again take place in Portland, Oregon. In addition a new production company, Sunswept Entertainment, has been brought in for Breaking Dawn, which is due to shooting in September 2010.

Creator of Sunswept Entertainment, Karen Rosenfelt will produce, Rosenfelt also served as Producer on “Twilight” and “The Twilight Saga: New Moon“. A director has not yet been attached to the project.

According to sources there will likely be heavy censoring of Breaking Dawn’s explicit sex and birth scenes in order to avoid an ‘R’ rating. Although Summit have not confirmed that the film will be shot in two parts, author Stephanie Meyer has stated:

“It would have to be made into multiple movies because it’s hard to imagine it fitting into ninety minutes”.

Fans have recently shown concern over the fate of the movie, which was the only part of the series not to have a confirmed production schedule. The second film in the series, “The Twilight Saga: New Moon” is due in theatres on 20th November 2009 and the third story in the series, “ ” is currently in production in Vancouver.