What steps remain for the AI gigafactory in Móra la Nova to be a reality?

MadridTwo of the parties involved in the European AI gigafactory to be built in Móra la Nova, in the Ribera d'Ebre region, have taken a step forward for the project to move forward. On the one hand, the Spanish government has approved an injection of 719 million euros to the Spanish Society for Technological Transformation (SETT), the so-called technological SEPI of the central executive, so that it dedicates them to this future artificial intelligence factory. In addition, the council of ministers this Tuesday also authorized SETT to be part of the commercial company that must promote the project and present the candidacy to Europe, and which has not yet been constituted.

On the other hand, the Generalitat has given the green light to the statutes that must allow, precisely, the creation of this commercial company and at the same time has approved the authorizations to make the affected land available for the project. "The approval of the statutes and the shareholders' agreement represents a definitive boost to a project conceived as a first-rate strategic infrastructure, capable of generating economic activity, qualified employment and positioning Catalonia as a benchmark in artificial intelligence," the Government indicated in a statement.

However, the formal constitution of the consortium and therefore the presentation of the candidacy will be key for the factory to advance.

Who is part of the promoting consortium?

The promoter company or consortium has not yet been established, but it is being "finalized". Different sources consulted indicate that it would be formalized during this summer.

This consortium will be behind the project and will be public-private. The Spanish and Catalan governments will have a stake, as will a group of private companies led by Telefónica, ACS, and Banco Santander. These companies have declined to comment.

The Generalitat has detailed that through Incasòl it will have a 1% stake in the share capital. It was also the Generalitat that announced in a press release how the rest of the capital will be structured, according to the promoters' "shareholders' agreement", as explained by the Government. The State will hold 47.99% through SETT; Telefónica 15.67%; ACS another 15.67%; Banco Santander 15.67%, and Multiverse 4%. In this way, the private sector's weight will be greater than the public sector's, and it will assume control of the gigafactory.

"A project of this magnitude requires a structure capable of coordinating investment, infrastructure, and operation. The Spanish government's participation through SETT is the guarantee of public strategic direction, coordination, and execution," they defend from the Ministry of Digital Transformation in a statement. "It is a commitment to reindustrialization and technological sovereignty," said the Spanish government spokesperson, Elma Saiz, at a press conference on Tuesday.

What is the total investment?

This Tuesday, however, only part of the total investment has been known and, as announced almost a year ago, it amounts to 5,000 million euros, between public and private resources.

The project plans to occupy 4 hectares of land and among the elements that have favored Móra la Nova as an enclave are access to energy (electrical power), water and fiber optics, essential for a gigafactory of these characteristics, the Spanish government explained.

What is Europe's role?

Once the consortium is established, it will be time to pass the examination to receive European funds. The promoters will have to present the Spanish candidacy (in addition to Móra la Nova, there will also be a headquarters in San Fernando de Henares, Madrid) to the European call to receive this European investment.

Brussels has created a fund of 20,000 million euros named InvestIA to develop AI gigafactories on the Old Continent and thus give wings to the strategic autonomy that it so deeply desires. The objective of the European Commission is to boost the industry of this technology in the community bloc and avoid falling too far behind in the AI race, which is led by powers such as the United States and China.