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Northvolt

PFA co-finances construction of sustainable battery factory

 

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PFA co-finances construction of sustainable battery factory

PFA has concluded an agreement with the Swedish company Northvolt AB on financing the construction of the factory Northvolt Ett in the north-eastern part of Sweden. Northvolt Ett will become one of Europe’s largest factories for the production of lithium-ion battery cells, to be used primarily for electric cars.

The production of car batteries in Europe is of great strategic importance to the European industry, including in particular the car industry. The construction of the Northvolt Ett factory is scheduled to start in 2021 and is expected to be completed in 2023-24.

Northvolt develops the battery cells in close collaboration with e.g. Volkswagen and BMW, and several large, international customers have already now committed to buying a large proportion of the factory’s future output. The owners behind Northvolt Ett include Volkswagen, BMW and Goldman Sachs, etc. The total financing package constitutes more than DKK 10bn.

Accura advised PFA in connection with the conclusion of the financing documents.

For further information, please read the press release or go to Northvolt.com.