Swedish battery maker Northvolt has completed work on Europe’s largest factory for energy storage solutions.
The 50,000 sq m Northvolt Dwa plant, located in the port of Gdansk in Poland, will begin operations by the end of the year, after the factory is officially opened.
Robert Chryc-Gawrychowski, the chief executive of Northvolt Poland, said it would be powered solely by electricity from renewable sources.
In July last year, Northvolt said it had raised $1.1bn in finance to back its drive to expand battery cell and cathode material production in Europe. It said the investment agreements meant it had secured almost $8bn in equity and debt since 2017.
This latest factory had an investment value of $200m and will have an initial annual output of 5GWh, later rising to 12GWh if a second stage goes ahead.
Orders for the plant’s output are expected to reach $55bn, and to come from carmakers such as BMW, Fluence, Scania, Volvo and Volkswagen.
- Chinese battery maker joins surge of investors in Hungary’s EV industry
- Korean company starts $290m Hungarian battery plant
- Ford to spend $1.3bn to convert Canadian plant to EV production
The post Northvolt completes work on Europe’s largest energy storage factory appeared first on Global Construction Review.