On April 15, Hithium Energy Storage and the Government of the Chartered Community of Navarre in Spain formally signed a Strategic Investment Cooperation Memorandum of Understanding, planning to construct a large-scale manufacturing facility for energy storage batteries and systems in the region. The first phase of the project represents a total investment of approximately €400 million (approximately Yuan 3.17 billion), and will be advanced through a joint venture established between Hithium and Sodena, a public development agency under the Government of Navarre.
According to disclosed information, the facility will be built in two phases, focusing on the production of lithium iron phosphate (LFP) battery cells and containerized energy storage systems, with the target of commencing operations in 2027. Upon full completion, the project is expected to create approximately 1,050 direct jobs, with around 750 jobs to be generated in the first phase. Should the final site selection comply with EU regional aid regulations, the project may also be eligible for financial subsidies of up to 20% of the total investment amount, equivalent to approximately €80 million.
Edited by Cassie Li, lixiangying@mysteel.com
