Dutch battery company to build 1.6 billion euro plant in China [Reuters (UK)]
Booking Holdings Inc. (BKNG)
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Source: Reuters
Dutch battery company to build 1.6 billion euro plant in China | Reuters 3 Min Read THE HAGUE (Reuters) - Lithium Werks BV, a startup founded by Dutch entrepreneur Kees Koolen, said on Tuesday it had signed a 1.6 billion euro ($1.85 billion) deal to build a new storage battery plant in China. Koolen told Reuters the agreement included project financing of 15-30 percent by Chinese or regional financing sources, 50 percent from development banks, and the remainder by Lithium Werks and its equity investors. The factory will be able to produce batteries with 500 GWh storage capacity per year by 2030. “There’s a big appetite from investors for such projects and such companies, so we have a lot of people interested to make sure we have enough equity,” Koolen said in a telephone interview. “This is just the first project we’re going to do.” The agreement is one of several commercial deals announced as Dutch Prime Minister Mark Rutte and Chinese Premier Li Keqiang met on Tuesday in the Hague.
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