- Verkor secures €1.3 billion in green financing from 19 banks for its Dunkirk Gigafactory.
- The Gigafactory will have an initial production capacity of 16 GWh/year and be operational by 2025.
- The European Investment Bank contributes €400 million, including €270 million in direct loans.
- The project has received a 'Dark Green' rating from Standard & Poor's for its environmental commitment.
Green Financing Secured
Verkor has secured over €1.3 billion in green financing from 16 commercial banks and 3 public banks. These funds will be allocated to the construction and financing of Verkor’s first Gigafactory in Dunkirk, which will have an initial production capacity of 16 GWh/year. This brings the total financing for the Gigafactory and the Verkor Innovation Centre to over €3 billion.
Banking Partners and Contributions
The European Investment Bank is contributing €400 million, including €270 million in direct loans under the InvestEU mandate and €130 million in intermediated loans to commercial banks. The commercial banks involved are ABN AMRO Bank, Australia and New Zealand Banking Group Limited, Banco Santander, La Banque Postale, Caisse d’Epargne et de Prévoyance Hauts de France, Caisse d’Epargne Rhône-Alpes, Coöperatieve Rabobank, ING BANK N.V, KfW IPEX-Bank, Kommunalkredit Austria, Mizuho Bank, MUFG Bank, Natixis, SMBC Bank International, Société Générale, and Standard Chartered Bank. These banks are providing €961 million in senior loans, with €353 million guaranteed by the French government under its “Garantie des Projets Stratégiques” (GPS).
Environmental Commitment
Verkor’s project has received a “Dark Green” rating from Standard & Poor’s, the highest possible for a green loan. This rating ensures that the project complies with numerous environmental criteria, regularly audited and measured to guarantee its ecological commitment. The Gigafactory will produce low-carbon batteries with one of the smallest environmental footprints in the world.
Job Creation and Timeline
Located in Dunkirk, the Gigafactory is expected to be operational by 2025. It will create approximately 1,200 direct jobs and 3,000 indirect jobs over the next two years, making Verkor a significant partner in the mobility and stationary storage sectors.
