Russian state-owned Rosatom State Nuclear Energy (Rosatom) has acquired a 49% stake in South Korea-based lithium-ion battery manufacturer Enertech International.
Rosatom didn’t reveal the financial terms of the deal but said that the agreement includes the construction of a 2 GWh storage system manufacturing facility at an unspecified location in Russia by 2030. “The start of the first stage of production is scheduled for 2025,” the Russian company specified. “Llithium-ion batteries made in Russia will be applied in electric vehicles (buses and cars), special equipment and in power grids.”
The new factory is expected to increase Rosatom’s production capacity and facilitate access to foreign markets. “In addition, local manufacturing content in Russia means not just new technologies and products, but also new jobs”, said Natalia Nikipelova, president of the TVEL Fuel Company (TVEL) unit, which the group founded in October to enter the energy storage business. “Our enterprises have had some experience in developing energy storage products, and since 2018,” a company spokesperson told pv magazine at the time. “But now a special-purpose company is finally incorporated to develop this business systematically.”
The unit already produces module-type lithium-ion traction batteries for electric vehicles, as well as energy storage systems for emergency power supplies, renewable energy resources, and the smoothing of load demand.
The Russian state-owned conglomerate’s nuclear power plants currently cover around 20% of Russia’s total electricity demand.
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Source: pv magazine