The worst effects of the pandemic may have passed, but supply chain disruptions continue to be felt across the world. The effects of the war in Ukraine are also evident to all of us in our daily lives, from commodities to energy, food supply chains and beyond. The disruption in the battery energy storage system (BESS) supply chain is no different, writes Cormac O’Laoire, senior manager of market intelligence at Clean Energy Associates. Indeed, as the cost of raw materials such as lithium climb, battery prices are being driven materially higher, on some accounts by 20% to 30%, rendering some projects uneconomical.
In July 2022, Stockholm-based Northvolt announced that it had raised $1.1 billion to finance the expansion of its battery cell and cathode material production footprint in Europe. Northvolt’s third gigafactory, Northvolt Drei, in Heide, Germany, is expected to have a capacity of up to 60 GWh. It will start to produce its first batteries in late 2025.
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