Money Meets Power As The UK Gigafactory Race Begins

The race to build the UK’s first gigafactory has now begun.

Three months after the £2.6B Blythe gigafactory plan was backed by mining giant Glencore, the rival 5.4M SF West Midlands plan has now secured an adequate power supply producing up to 60-gigawatt hours a year. But there is no news of a funder.

“By submitting our planning application earlier this year, and now answering the difficult question around power supply and renewable energy, we are doing what we can to be able to get the site operational ASAP once a commercial negotiation between supplier and customer concludes,” West Midlands Mayor Andy Street said.

An outline planning proposal for the West Midlands gigafactory — intended to provide batteries to replace petrol and diesel motor engines — was submitted in July and the application is yet to be decided.

The £2.5B project will be powered by a major boost to the local energy network, giving the gigafactory access to a renewable electricity supply, from a combination of solar power and grid-supplied renewables. The West Midlands gigafactory will be able to recycle used batteries as well as build new ones in an industry-leading approach known as 'cradle to cradle'.

In August 2021 the rival Britishvolt proposals for Blythe, in the north east, won backing from Glencore, one of the world’s leading suppliers of the cobalt, copper and nickel that battery technology requires.

The UK auto sector will stop producing petrol and diesel engines in 2030.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Birmingham Newsletters
Related Stories

Battersea Power Station Reveals Plans To Double Development Again

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

New Occupiers And More VC Money Fuel UK Life Sciences Rebirth

Canadian Firm Raises £680M For 6,000-Home UK BTR Push

25 Years After 9/11, Lower Manhattan Is Finally Firing On All Cylinders

Orega Completes PE-Backed Management Buyout: The London Deal Sheet

From Sector-Specific To Asset-Focused: Investment Strategies That Perform Today

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success

Retail Dynasty Pushes Button On Pair Of London Coliving Schemes

How Prologis Conquered The World

The Opportunities, Limitations And Benefits Of Reserved Investor Funds

Summer Broke The Script. Here's What CRE Is Walking Back Into