Renewable

July 20 (Renewables Now) - Britishvolt Ltd on Friday said it has inked a memorandum of understanding (MoU) with the government of Wales to collaborate on the development of a 30-GWh-plus lithium ion battery factory at a former Royal Air Force base.

The company chose the site at Bro Tathan in South Wales out of 42 locations it considered carefully for six months.

The plan includes building a 200-MW solar power plant to support the battery production process and ensure a near carbon neutral electricity input.

Commenting on the deal, CEO Orral Nadjari said: "Britishvolt will also encourage other businesses to invest in the region with the aim of creating a 'hub' of battery electrification – building out our very own infrastructure and supply chain ecosystem, which will create thousands more jobs."

Britishvolt's initial project investment of about GBP 1.2 billion (USD 1.5bn/EUR 1.34bn) is expected to create up to 3,500 jobs. Construction is due to start in early 2021.

As announced earlier, the first stage of the so-called GigaPlant should be fully functional by the third quarter of 2023.

(GBP 1.0 = USD 1.26/EUR 1.1)