Russian state-owned Rosatom State Nuclear Energy (Rosatom) has acquired a 49% stake in South Korea-based lithium-ion battery manufacturer Enertech International.
Rosatom did not disclose the financial terms of the deal, but said that the agreement includes the construction of a 2 GWh storage system manufacturing facility at an unspecified location in Russia by 2030.
“The start of the first stage of production is scheduled for 2025,” Rosatom said. “Llithium-ion batteries made in Russia will be applied in electric vehicles (buses and cars), special equipment and in power grids.”
The new factory is expected to increase Rosatom's production capacity and facilitate access to foreign markets.
“In addition, local manufacturing content in Russia means not just new technologies and products, but also new jobs,” said Natalia Nikipelova, president of TVEL Fuel Company (TVEL), which Rosatom set up in October to enter the energy storage business.
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A Rosatom spokesperson told pv magazine at the time of TVEL's establishment that the group's enterprises have been developing energy storage products since 2018. “But now a special-purpose company is finally incorporated to develop this business systematically,” the spokesperson explained.
TVEL already produces module-type lithium-ion traction batteries for electric vehicles, as well as energy storage systems for emergency power supplies, renewable energy resources, and the smoothing of load demand.
The Russian state-owned conglomerate's nuclear power plants currently cover around 20% of Russia's total electricity demand.
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