📋 Tender Overview
Scope :
Battery maker Northvolt and Galp Energia form JV to build lithium plant
Northvolt will build a lithium processing plant with Portugal's Galp Energia (GALP.LS) with investments estimated at around 700 million euros ($789.6 million), as demand grows for lithium-ion batteries to power electric vehicles.
A 50/50 owned joint venture - Aurora - will operate the plant which will have an initial annual production capacity of up to 35,000 tons of lithium hydroxide, a key material for lithium-ion battery makers. Plant would be Europe's largest and start commercial operations in 2026.
It estimated that 1,500 jobs would be created, while a decision on the plant's location and on the amount of the final investment was still due.
The plant will be able to deliver enough lithium hydroxide for 50 gigawatt hours of battery production per year, with Northvolt using up to 50% of the plant's capacity for its battery making. Extending the new European value chain upstream to include raw materials is of critical importance.
