Chinese firm signs deal with Spain to build net zero park in Europe

Chinese green technology company Envision Group signed a general protocol for collaboration with the Spanish government on Monday to build the first Net Zero Industrial Park in Europe.

The cluster will include the construction of a gigafactory for electric vehicles' batteries, a development and innovation center for the digitalization of renewable energy systems, a green hydrogen generation plant and the manufacture of electrolyzers and a wind power generation plant and the assembly of smart wind turbines.

The business-government partnership is expected to step up Spain's net zero transition and creation of new industry, not only for Spain but also as an important part of Europe's "building back better" program, said Envision in a statement.

"We are fully committed to supporting Spain's national agenda on net zero transition," said Lei Zhang, CEO of Envision.

"The creation of new industrial opportunities such as the Net Zero Industrial Park will unlock the vast potential of renewable energy in Spain and serve as a gateway to building a pan-European greentech industrial ecosystem."

Spain's Prime Minister Pedro Sánchez said the government welcomes this important partnership to accelerate Spain's transition to net zero carbon by the mid-century with Envision, a strategic partner who can provide innovative solutions to boost green economy in the country.

As the net zero technology partner of global companies and governments, Envision aims to develop 100 Net Zero Industrial Parks in the next decade globally, reducing global carbon emissions by 1 billion tons per year.