You are currently viewing Acciona will invest 200 million euros in the new battery plant in Extremadura

The president of ACCIONA, José Manuel Entrecanales, has announced that the company will invest around 200 million euros in the new project led by the Chinese company Envision to install a battery factory in Navalmoral de la Mata (Extremadura).

In a meeting with the media after the holding of the company’s shareholders meeting, the executive has advanced that the main role of the company in this project will be to supply electricity from renewable sources.

For it, install photovoltaic panels with a total capacity of 300 megawatts (MW)which will translate into an investment of 200 million euros, which is added to the 900 million euros that the factory as a whole will require.

In any case, the project, presented to the Perte launched by the Government in this matter, is in the planning phase and has not yet been approved, now pending the completion of several agreements with its client, which would be Envision.

Apart from this project, Entrecanales has announced another corporate operation that the company is studying and that will be finalized in the coming weeks, the purchase of a company that promotes renewables in Asia.

ask for certainty

In the field of energy regulation, the president of Acciona believes that renewables should be exempt from any new tax raised by the Government and has insisted on the need for regulatory certainty.

In this sense, he has assured that the correction experienced on the stock market by the company, which has gone from trading at 38 euros to 33 euros per share in recent weeks, is explained by these regulatory changes, such as the limit on gas or the new taxation announced.

“Investors are not made of stone and the regulatory changes of a certain recurrence create a lot of uncertainty in the sector, which ends up moving to action”, he added, recalling that investors decide the destination of their funds based on the equation between risk and return.

Entrecanales has also ruled out placing more Acciona Energa shares on the market after last year’s IPO of its energy business and has kept its goals for this year unchanged.

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J. A. Allen

Author, blogger, freelance writer. Hater of spiders. Drinker of wine. Mother of hellions.