EnergyTrend learned on July 24 that the African Development Bank has officially approved a €100 million (approximately RMB 771 million) loan to Gotion’s Moroccan subsidiary for the construction of a lithium iron phosphate (LFP) integrated mega-battery factory in Morocco.
At the same time, the African Development Bank will act as the mandated lead arranger and plans to raise up to an additional €141 million (approximately RMB 1.087 billion) in supplementary funding to ensure the project’s implementation.
It is understood that the battery plant will be built under the leadership of GXHT GOTION, located in the Rabat-Salé-Kénitra Free Trade Zone in Morocco. It will be the first integrated battery production facility in Africa as well as the Middle East and North Africa region. The first phase is planned with an annual capacity of 10GWh for battery cells and packs, with subsequent expansions based on market demand, and a long-term total capacity target of 100GWh.
Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth at the African Development Bank Group, said: "Energy storage is a critical gap in Africa’s clean energy transition. This large-scale battery factory, powered mainly by renewable energy, can support the integration and consumption of large-scale wind and photovoltaic power in the region. In addition, while providing low-carbon energy products, the plant can also create green jobs and build a sustainable industrial chain, aligning with Africa’s long-term energy transition needs."
The construction of this plant will help Morocco further implement its development vision, accelerate its emergence as a core hub for global e-mobility and green technology industrial chains, and establish a stable new energy industrial chain. At the same time, it will also enhance Gotion’s global production capacity layout.
Source：EnergyTrend