June 6 (Renewables Now) - Chinese green technology company Envision Group has formed a consortium with 11 entities to lead the development of a EUR-1-billion (USD 1.07bn) electric vehicle (EV) battery plant in Spain’s region of Extremadura.
The project VENERGY+ is imagined as a 100% decarbonised giga-factory in the town of Navalmoral de la Mata that will manufacture high performance battery cells, modules and packs with extended range and increased density, Envision said. In the first phase, the giga-factory will have a capacity of 10 GWh, which the group expects to raise to 30 GWh by 2030.
Spanish renewables company Acciona Energia (BME:ANE), a member of the consortium via two business units, will supply electricity to the plant from an on-site solar farm.
The VENERGY+ partnership has applied for funding from the so-called PERTE VEC, the Spanish government’s financing instrument aimed supporting EVs and connected vehicles with EU rescue funds.
The proposed battery plant could be operational in 2025. Envision, which is working on the project through its battery technology unit Envision AESC, expects the project to create some 3,000 new jobs from then on, it said.
The VENERGY+ project will include the factory and the supporting ecosystem. According to Envision, the initiative will span 16 primary projects spanning ten regions of Spain. Besides Envision and Acciona, the consortium includes Teknia, the Automotive Technology Centre of Galicia (CTAG), Aresar, Liux, Qalma, Glavista, Cable Energía and Kapture.IO.
(EUR 1.0 = USD 1.074)