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

E.ON forecasts reduction in energy bills of at least £85 from Autumn

05/08/2020 11:25:00

The energy supplier says this change is due to the ‘dramatic’ fall in energy demand during the lockdown

<READ MORE

BP to spend $5B annually towards its net zero ambition

05/08/2020 11:16:00

BP to cut fossil fuels output by 40% by 2030

READ MORE

Daily (05.08.2020): Brent crude hit its highest settlement since early March on Tuesday, driven by the anticipation of a drop in U.S. stocks

05/08/2020 09:17:00

Crude oil futures rose for a third straight session on Tuesday, driven by tumbling dollar, hopes of a new economic stimulus package in the U.S. and expectations that U.S. stockpiles drop again. Hence, Brent crude added 28 cents, or 0.6%, to settle at $44.43 a barrel, its highest close since March 6 At the same time, U.S. WTI crude rose by 69 cents, or 1.7%, to end at $41.70, its highest settlement since July 21.

READ MORE