CATL and Stellantis invest €4bn in Figueruelas battery factory amid Spain's renewable energy transition
CATL and Stellantis have initiated a €4 billion investment in a new battery factory located in Figueruelas, Aragón, with construction already underway. This plant will be powered by local wind and solar resources, aligning with Spain's increasing shift towards renewables, which accounted for 57% of the country's electricity last year. The government has set an ambitious target to reach 81% renewable energy by 2030. The Figueruelas project is expected to generate up to 35,000 indirect jobs, and approximately 2,000 Chinese workers will contribute to its construction.
On 28 April, a blackout affected Spain and Portugal, prompting debates about the stability of renewable energy sources. Authorities have ruled out a cyber-attack and stated that the outage was not caused by renewables; however, the exact cause remains under investigation. Spain's nuclear energy sector provides about 20% of the country's electricity, with five reactors planned to close between 2027 and 2035. An extension request for the Almaraz plant until 2030 is under consideration, as nuclear advocates argue the technology provides energy stability and should remain part of the energy mix alongside renewables.
The expansion of energy storage installations is needed to support the grid. Spain's Iberian grid is relatively isolated from the broader EU grid, complicating cross-border electricity supply. Politically, the Socialist-led coalition government is currently facing corruption scandals and the possibility of a snap election. A prospective right-wing government is expected to place less emphasis on renewables in its energy policy.
