Home Hydrogen technology Stellantis acquires 49.5% stake in Argentine describe voltaic firm

Stellantis acquires 49.5% stake in Argentine describe voltaic firm

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Stellantis acquires 49.5% stake in Argentine describe voltaic firm

Automobile producer Stellantis has agreed to make investments $100 million in a 49.5% stake in Argentina’s 360 Energy Solar. The two events opinion to fetch new describe voltaic vegetation, set up gargantuan-scale storage programs, and invent hydrogen vitality.

Image: StockSnap, Pixabay

Automaker Stellantis stated this can produce a 49.5% stake in Argentine PV energy producer 360 Energy Solar through a $100 million investment.

Stellantis stated the two events will fetch new describe voltaic vegetation, set up gargantuan-scale storage programs, and invent hydrogen vitality.

Work will launch by expanding renewable vitality at Stellantis’ Ferreyra and El Palomar vegetation in the Argentine provinces of Cordoba and Buenos Aires, that are each powered by 360 Energy Solar’s La Rioja PV plant.

Stellantis makes and sells Citroen, Fiat and Peugeot vehicles in Argentina. The firm stated the investment represents a no doubt main step in direction of its goal of vitality autonomy, as it no doubt works to maintain carbon neutrality by 2038.

“Our goal of offering wisely-organized, safe and cheap mobility challenges us to rethink every thing of our operations and the infrastructure that supports us,” stated Emanuele Cappellano, the president of Stellantis for South The US. “A sustainable electric mobility ecosystem is no longer that that you just would be able to also imagine with out accessible wisely-organized vitality.”

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360 Energy Solar currently owns six PV vegetation in the provinces of San Juan, Catamarca and La Rioja, with an attach in generating ability of larger than 250 MW. It stated it has one other 500 MWp of initiatives in the pipeline in Argentina.

“We’re convinced that describe voltaic vitality will lead the international vitality transition,” stated 360 Energy CEO Federico Sbarbi Osuna. “This new path that we are embarking on along with Stellantis will enable us to speed up our development plans in Argentina and maintain bigger our operations to a lot of countries in Latin The US and Europe, consolidating ourselves as a main player in the vitality transition.”

In December 2022, Stellantis signed what used to be then the 2nd-supreme company energy aquire settlement in US history, to procure 400 MW of new describe voltaic in the enlighten of Michigan.

Earlier this year, pv journal reported that Argentina had hit 1.36 GW of PV ability by the discontinue of 2023.

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