Stellantis recently acquired 49.5% of an Argentine solar power producer, 360 Energy Solar, with the aim of enhancing its self-sufficiency in operations. The legacy automaker made a significant investment of $100 million into 360 Energy Solar and has ambitious plans in mind.
It intends to develop new solar plants, install large-scale solar storage systems, and produce hydrogen energy through this partnership. This move coincides with the announcement of the commencement of in-house production of mid-size and large hydrogen fuel cell vans in France and Poland, respectively.
The acquisition of 360 Energy Solar is also expected to bolster the renewable energy capabilities of Stellantis’s Ferreyra and El Palomar plants. Currently, these facilities are powered by 360’s La Rioja solar power plant, showcasing the potential for further collaboration.
Stellantis has been actively seeking partnerships with various organizations and groups to advance its renewable energy initiatives. However, as the company embraces a renewable future, its CEO has faced criticism.