William Eichler 16 April 2024

Council considers £110m offer for former EV battery factory site

Council considers £110m offer for former EV battery factory site  image

Northumberland County Council is set to consider a multi-million-pound deal that could see a site earmarked for a collapsed electric vehicle battery factory sold.

Britishvolt had planned to build a £3.8bn car battery factory in Cambois, Northumberland, before going into administration in January.

The council’s cabinet will next week consider amending the buy-back option on the Northumberland Energy Park (NEP3) site in exchange for up to £110m from private equity firm Blackstone.

Council leader Glen Sanderson said the deal offers a ‘huge boost’ to the regeneration and renaissance of the local area.

He continued: ‘The project would represent a significant inward investment of up to £10bn, putting our county at the forefront of developments in the digital economy, and delivering over 1,600 direct jobs, including 1,200 long-term construction jobs, and over 2,700 indirect jobs over the course of the development.’

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