Cornet Vincent Ségurel is assisting the Hauts-de-France Region in setting up the Verkor plant

Published on 06 december 2023

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Competition – Sales and Distribution – Commercial Contracts

In support of the French government and the Communauté Urbaine de Dunkerque, the Hauts-de-France Region is providing a €60 million subsidy for the Verkor new-generation low-carbon battery plant in Bourbourg (59).

With an initial production capacity of 16 GWh per year, and a target of 50 GWh per year by 2030 to power one million cars a year, the Gigafactory will be built on an 80-hectare site. The third battery Gigafactory to be built in Hauts-de-France (after those in Douai and Douvrin), it will create more than 1,200 direct jobs at an initial investment of €1.5 billion by Verkor.

Work on the site will start in 2023 and the first batteries will be produced in 2024.

The Hauts-de-France Region has been supporting this project from start to finish, from the very first phase of its identification, and then during the competition with other European sites. The Hauts-de-France Region is also supporting the facility with a €60 million grant, in addition to subsidies from the French government via Bpifrance (€569 million) and the Dunkirk Urban Community (€30 million).

The Lille office of the business law firm Cornet Vincent Ségurel assisted the Hauts-de-France Region in drafting the legal documentation relating to the payment of this grant.

Participants:

Attorneys Région Hauts-de-France : Cornet Vincent Ségurel (Thomas Deschryver, Stéphanie Forest, Maximilien Plaisant)

Verkor attorneys : Hogan Lovells (Bruno Cantier, Astrid Layrisse)

Bpifrance attorneys : Weil, Gotshal & Manges (Marc Lordonnois)

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