Will China invest €2B in Portugal to build a new lithium battery factory?
The Chinese company CALB has confirmed that it will invest €2Bn in Portugal to build a new lithium battery factory at Sines. The launch of the project took place today (Monday) in Lisbon and was attended by the President of the Board of CALB, Liu Jingyu and Portugal’s Minister of the Economy, Pedro Reis.
Will a new battery factory create new jobs in Portugal?
Our factory will not only create new jobs, but will also place Portugal at the forefront of the production of batteries for electric vehicles in Europe,” said Liu Jingyu, chairman of the Board of Directors of CALB. Once operational, the plant will have a production capacity of 15 GWh of energy storage.
Is China a 'historic investment for the green economy' in Portugal?
The launch of the project took place today (Monday) in Lisbon and was attended by the President of the Board of CALB, Liu Jingyu and Portugal’s Minister of the Economy, Pedro Reis. In a statement, the Chinese manufacturer called it “a historic investment for the green economy in Portugal”.
Is Europe ready for energy storage?
Europe is expected to deploy over 90 GWh of utility-scale battery energy storage projects by 2030, and we are well positioned to support this demand along with the wider EMEA region’s rapid energy storage growth,” said Powin CEO, Jeff Waters.
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