Groupe BPCE supports the construction of a ‘gigafactory’ for electric batteries in Douai

Wednesday, 20 december 2023

In 2025, this new factory, operated by AESC, a world leader in the development of high-performance batteries, will start supplying equipment for two Renault models manufactured on a production site located nearby.

Natixis Corporate & Investment Banking acted as a Mandated Lead Arranger, collateral agent and hedging bank within a European banking pool behind a €873 million financing package for the construction of the plant. Caisse d’Epargne Haut de France also contributed to the syndication.

The AESC plant is one of the first four so-called ‘gigafactories’ dedicated to the production of electric batteries planned for the Hauts-de-France region, whose ambition is to become the ‘electric battery valley’ of north-east France.

The total initial investment for the project amounts to 1.3 billion euros, and will create approximately 1,200 indirect jobs within three years, and up to 3,000 by 2030. The 9 GWh/year plant is scheduled to start production in 2025, supplying batteries to power 200,000 electric vehicles a year in its initial phase, and to equip Renault’s future ECHO (the new R5) and 4Ever models. Subsequent phases of development could boost the plant’s capacity to between 24 GWh and 30 GWh per year by 2030.

The project is also supported by Bpifrance, La Banque des Territoires, and the European Investment Bank.