Stellantis STLAM.MI said on Wednesday it would pay $100 million to acquire 49.5% of one of Argentina’s leading solar energy companies, 360 Energy Solar, a move in line with the automaker’s desire to make its factories “greener”.
In a statement, the group said additional solar power plants would be developed, large solar energy storage systems installed and hydrogen produced.
This investment will allow Stellantis to increase the share of renewable energy used in its Argentinian factories in Ferreyra and El Palomar – two factories already powered by 360 Energy Solar’s La Rioja solar plant.
(Walter Bianchi; French version Jean Terzian)