Habeck releases half a billion euros for battery factory
In the budget crisis, every item of expenditure has to go through Finance Minister Lindner's desk - including the funding decision for a Northvolt battery factory in the Dithmarschen district. Economics Minister Habeck can report at the weekend: The half a billion euros promised by the federal government can flow.
Despite budget problems, the federal government has released a good half a billion euros for the establishment of the Northvolt battery factory in Heide in the district of Dithmarschen. A corresponding funding decision has now been sent to the company, the ministry announced. "Securing funding for Northvolt is an important step towards triggering a major private investment that will create added value and jobs in an industry of the future," said Federal Minister for Economic Affairs Robert Habeck. "And it is good that we were able to obtain the exemption from the budget freeze."
According to the ministry, the total funding for the project in Schleswig-Holstein is around 700 million euros. Of this, around 564 million euros will come from the federal government and around 136 million euros from the state. The funding is spread over several annual tranches.
The Federal Ministry of Economics had reportedly applied to the Federal Ministry of Finance to release the funds despite the current budget freeze due to the urgency of the final location decision. This was approved, the Ministry of Economic Affairs also announced.
Habeck still has to convince the EU Commission
However, the funding decision is still subject to approval by the European Commission under state aid law. "We are in constructive discussions with the Commission on this," the ministry stated. In order to implement the project, the two local municipalities still need to pass resolutions as part of the urban land-use planning process, which will probably only be possible once the conditions under state aid law have been met.
The Swedish company Northvolt plans to manufacture battery cells for electric cars in a factory in Heide from 2026. The 4.5 billion euro investment is expected to create 3,000 jobs. The company has already invested around 100 million euros of its own funds in the construction project in Heide, according to sources close to the project.
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The half a billion euros in subsidies from the federal government will contribute to the establishment of battery cells production at the Northvolt factory in Schleswig-Holstein. The total funding for this project, which includes state subsidies, is approximately 700 million euros.
Source: www.ntv.de
