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America","eu-agrees-e902-million-aid-to-northvolt-as-europes-battery-production-set-to-fall-behind-north-america","article/eu-agrees-e902-million-aid-to-northvolt-as-europes-battery-production-set-to-fall-behind-north-america",{"_uid":547,"date":548,"tags":549,"editor":562,"content":572,"excerpt":717,"featured":50,"reporter":718,"_editable":722,"component":723,"seo_title":543,"categories":724,"visibility":728,"author_company":49,"featured_image":729,"seo_description":717,"author_full_name":49,"author_job_title":49,"formattedDate":733,"formattedArticleDate":734},"fa2bc400-b0fe-494a-b7e5-9343fa861dcf","2024-01-12 00:00",[550,553,556,559],{"slug":551,"name":552},"europe","Europe",{"slug":554,"name":555},"european-union","European Union",{"slug":557,"name":558},"northvolt","Northvolt",{"slug":560,"name":561},"policy","Policy",[563],{"slug":564,"name":565,"content":566},"matthew-bird","Matthew Bird",{"job_title":567,"image":568,"bio":570,"linkedin":571},"Senior Editor - Supply Chains & Data Visualisation",{"filename":569},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":573,"content":574},"doc",[575,582,587,592,607,616,621,626,633,638,643,648,653,658,671,684,689,694,699,704],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579],{"text":580,"type":581},"The European Commission has approved €902 million ($961 million) of state aid from Germany for Sweden’s Northvolt to set up a battery plant in the country, in a move designed to counter the generous subsidies for the industry available in the US.  ","text",{"type":576,"attrs":583,"content":584},{"textAlign":49},[585],{"text":586,"type":581},"The money would be the first such grant as part of a “matching aid clause” in EU rules that is aimed at preventing investment from moving to other countries, in particular the US, where the Inflation Reduction Act has accelerated clean energy investments. ",{"type":576,"attrs":588,"content":589},{"textAlign":49},[590],{"text":591,"type":581},"It comes as data shows North America is set to produce more batteries than Europe by the end of this decade, following over $100 billion of announced investments in battery manufacturing following the passing of the IRA in August 2022.",{"type":576,"attrs":593,"content":594},{"textAlign":49},[595,597,605],{"text":596,"type":581},"Europe’s cell supply is forecast to reach 750 gigawatt hours by 2030, from 77 GWh this year, according to ",{"text":598,"type":581,"marks":599},"Benchmark’s Lithium Ion Battery Database",[600],{"type":601,"attrs":602},"link",{"href":603,"uuid":49,"anchor":49,"target":49,"linktype":604},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/","url",{"text":606,"type":581},". But North American cell supply is now expected to grow from 75 GWh this year to 886 GWh by the end of 2030.",{"type":576,"attrs":608,"content":609},{"textAlign":49},[610],{"type":611,"attrs":612},"image",{"id":49,"alt":613,"src":614,"title":49,"source":49,"copyright":49,"meta_data":615},"","https://a.storyblok.com/f/287943243085208/40378ed373/bm-europe-vs-na-cell-supply.png",{},{"type":576,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":581},"Earlier last year Northvolt said that it planned to invest in the US instead of in the north German state of Schleswig-Holstein, due to the subsidies available. ",{"type":576,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":581},"“Without the aid, Northvolt would establish the plant in the United States, where support was offered in particular under the Inflation Reduction Act,” the EU Commission acknowledged.",{"type":627,"attrs":628,"content":630},"heading",{"level":629,"textAlign":49},4,[631],{"text":632,"type":581},"Northvolt Drei",{"type":576,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":581},"Northvolt’s proposed German plant will have an annual capacity of 60 gigawatt-hours (GWh) and could power up to one million electric vehicles a year, depending on the size of the battery, the European Commission said. The plant will start producing in 2026 and will reach full production capacity in 2029.",{"type":576,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":581},"Northvolt aims to use clean energy from the region’s wind power for the plant, as well as energy that comes from interconnections with Denmark and Norway. ",{"type":576,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":581},"“By approving this state aid, hopefully it will bring more confidence to manufacturers to continue with plans for plants in Europe with the confidence that there will be state support in a similar way that the IRA would support such plans,” said Aran Waid, an analyst with Benchmark.",{"type":627,"attrs":649,"content":650},{"level":629,"textAlign":49},[651],{"text":652,"type":581},"Matching US subsidies ",{"type":576,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":581},"Early last year, the EU loosed state aid rules as part of the Temporary Crisis and Transition Framework, which was first introduced following Russia’s invasion of Ukraine. It allows individual European countries to support accelerated investments in strategic sectors such as battery making for the transition towards a net-zero economy.",{"type":576,"attrs":659,"content":660},{"textAlign":49},[661,663,669],{"text":662,"type":581},"That allows the provision of financing to support Europe’s ",{"text":664,"type":581,"marks":665},"Green Deal Industrial Plan",[666],{"type":601,"attrs":667},{"href":668,"uuid":49,"anchor":49,"target":49,"linktype":604},"https://source.benchmarkminerals.com/article/key-points-from-the-eus-green-deal-industrial-plan",{"text":670,"type":581},", a policy aimed at ensuring access to critical raw materials and stimulating cleantech investments in Europe, mainly through regulation. This includes the European Critical Raw Materials Act (CRMA) and the Net-Zero Industry Act (NZIA).",{"type":576,"attrs":672,"content":673},{"textAlign":49},[674,676,682],{"text":675,"type":581},"Europe has some 1.13 terrawatt hours (TWh) of planned battery production by 2030, according to the ",{"text":677,"type":581,"marks":678},"Benchmark Gigafactory Assessment.",[679],{"type":601,"attrs":680},{"href":681,"uuid":49,"anchor":49,"target":49,"linktype":604},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/reports/",{"text":683,"type":581}," Northvolt’s 60 GWh plant could make up around 5.3% of the total European pipeline. ",{"type":576,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":581},"In contrast, the North American battery capacity pipeline to 2030 is forecast to reach 1.3 TWh.",{"type":576,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":581},"The German aid comprises a €700 million ($746 million) direct grant and a €202 million ($215 million) guarantee to the plant, which is planned to be built outside the town of Heide, north of Hamburg.  ",{"type":576,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":581},"The move, the EU said, will not lead to overcapacity in the market and that it is proportionate and limited to the minimum necessary to trigger the investment in Europe. ",{"type":576,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":581},"The grant will also not exceed the amount of the subsidy that Northvolt could receive for the equivalent investment in the US.",{"type":576,"attrs":705,"content":706},{"textAlign":49},[707,709,715],{"text":708,"type":581},"Northvolt currently has a plant in Sweden and Poland and is also building ",{"text":710,"type":581,"marks":711},"a $5 billion gigafactory",[712],{"type":601,"attrs":713},{"href":714,"uuid":49,"anchor":49,"target":49,"linktype":604},"https://source.benchmarkminerals.com/article/northvolt-picks-quebec-for-5-billion-gigafactory",{"text":716,"type":581}," in Canada.  ","The European Commission has approved €902 million ($961 million) of state aid from Germany for Sweden’s Northvolt to set up a battery plant in the country, in a move designed to counter the generous subsidies for the industry available in the US. The money would be the first such grant as part of a “matching […]",[719],{"slug":564,"name":565,"content":720},{"job_title":567,"image":721,"bio":570,"linkedin":571},{"filename":569},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"fa2bc400-b0fe-494a-b7e5-9343fa861dcf\", \"id\": \"\"}-->","article",[725],{"slug":726,"name":727},"batteries","Batteries","private",{"id":49,"alt":613,"name":613,"focus":613,"title":613,"source":613,"filename":730,"copyright":613,"fieldtype":731,"meta_data":732,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/7f8ac30a0d/bm-northvolt-drei.jpg","asset",{"alt":613,"title":613,"source":613,"copyright":613},"Jan 12, 2024","12th January 2024",[],[],1781512939197]