The Energy Storage Report 2024

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VIDEO: What does it take to finance a gigafactory?

By Solar Media Staff

What does it take to successfully create a multi-gigawatt battery storage factory?

The European Union has invested billions into creating a manufacturing supply chain for the energy storage market, seeing the multi-country initiative focus on key parts of the supply chain. Europe wants to make its own mark on the lithium-ion battery revolution, in both the electric vehicle (EV) and battery energy storage system (BESS) sectors.

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Or continue reading this article for free' editor Andy Colthorpe moderates a discussion with some key players in that European push. We hear what sort of financing and business strategies have been required to support Northvolt, a startup with an ambition to serve 25% of total demand across the continent from 150GWh of battery and system gigafactories. See the video below. 

Joining Andy in the virtual conference room are:

  • Joakim Palmgren – Project Finance North, Central and South East Europe at the European Investment Bank
  • Bo Normark – Industrial Strategy Executive at EIT InnoEnergy Steven Cespedes -Director, Project Finance at BNP Paribas
  • Edward Reed – Director of Advisory Services at WSP
  • Tim van Pelt – Director, Renewables and Power, Energy Sector at ING Bank
  • Marco Schweer – Director, Sector Lead – Renewable Energy at SMBC

This discussion took place at Solar Media's Energy Storage Virtual Summit, hosted in late September 2020.

With thanks to conference producer Lucy Jacobson-Durham and the rest of the team at Solar Media's Solar Events. 

Cover Image: Northvolt Ett under construction, Autumn 2020. Image: Northvolt. 

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