May 24 (Renewables Now) – Portuguese consortium Lux Optimeyes Energy will invest EUR 5 million (USD 6m) to establish a factory combining the production of flexible low-weight photovoltaic (PV) panels and high-efficiency lithium batteries in Moura municipality.
The announcement was made on Friday during the signing of a lease agreement between the new investor and Spanish group Acciona SA (BME:ANA), the owner of Moura Fabrica Solar. This existing factory will house the new capacity.
The new production plant is expected to create more than 40 direct jobs, and 200 indirect jobs. A total of EUR 2.96 million of co-financing has been secured through the Alentejo 2020 Operational Programme.
In addition to the above-mentioned contract, a memorandum of understanding (MoU) between the Moura city council and Lux Optimeyes was also inked, supporting the project.
The investor is a partnership between Portuguese group Lux and entrepreneur Miguel Matias, founder of London-based Optimeyes Energy Ltd.
Lux will use the XNRGI technology for the production of the lithium batteries, the first of its kind in the European market, the local government said.
(EUR 1.0 = USD 1.217)