Verkor secured over €1.3bn in green financing to support the construction of its first Gigafactory located in Dunkirk, France.
📈 Follows €2bn Financing: Last year, the company announced another mega financing for the same facility, which comprised €850mn in Series C round, €600mn debt and €650mn in government subsidies.
🏦 Diversified Lender Base: The current financing comes from a consortium of 16 commercial banks and 3 public banks, including MUFG, Societe Generale, and European Infrastructure Bank.
⚡Production Capacity Goals: The gigafactory aims to produce 16 GWh/year initially, with plans to expand to 50 GWh/year by 2030. Low-carbon battery cell production will start by 2025.
🚗 Renault Partnership: Verkor and Renault Group have an off-take agreement for an initial 10 GWh of battery production, with Renault also taking a stake in Verkor.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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