Plans unveiled for €1.6bn gigafactory in France to supercharge growing battery demand

31/07/2020 09:18 Renewable

news

Production in the gigafactory is scheduled to begin in 2023 with a capacity of 16GWh of battery cells which will later increase to 50GWh

Battery cell production in Europe will get a boost with the construction of a new gigafactory in France.

 

The French industrial company Verkor has announced it will work with EIT InnoEnergy, the energy company Schneider Electric and the property GROUPE IDEC to build the facility, which will require an initial investment of €1.6 billion (£1.4bn) and will create more than 2,000 jobs.

 

The firm confirmed it will start the construction of the project in 2022 and expects production to begin one year later, with a capacity of 16GWh of battery cells which will later increase to 50GWh.

 

Diego Pavia, CEO of EIT InnoEnergy, said: “The first Verkor Gigafactory will help bridge the gap between Europe’s planned demand and currently forecasted European supply in this decade.”

 

Christel Galbrun-Noel, Mobility Segment President at Schneider Electric, commented: “This brings together the best of energy management and industrial expertise to build green, competitive batteries as part of our commitment to helping the European transition to EVs.”

 

Recent surveys show the expected growth in battery demand this decade will require three to four gigafactories in France alone.

Source: energylivenews.com

Shell’s second-quarter LNG sales drop

30/07/2020 09:52:00

The Hague-based LNG giant Shell logged a 7 percent decline in its liquefied natural gas sales during the second quarter of this year as it reported a huge quarterly loss.

<READ MORE

Daily (29.07.2020): British gas prices gained ground on Tuesday amid lower Norwegian flows and higher carbon prices

29/07/2020 10:24:00

Crude oil futures ended lower on Tuesday as market players continue to fret over the impact of COVID-19 on energy demand ahead of weekly petroleum supply data expected to show a further rise in U.S. crude inventories. Hence, Brent crude slipped by 19 cents, or 0.4%, to settle at $43.22 a barrel, while U.S. WTI crude futures declined by 56 cents, or 1.4%, to settle at $41.04 a barrel.

READ MORE

UK can have "negative-subsidy" offshore wind online in couple of years

29/07/2020 09:50:00

The UK’s contracts for difference (CfD) auctions in September 2019 will likely bring the world’s first "negative-subsidy" offshore wind farms, according to a study led by Imperial College London (ICL) researchers.

READ MORE