A $100 million battery storage “gigafactory” is likely to be built in Darwin, with a new consortium planning to establish a large-scale lithium-ion manufacturing plant by the end of 2018.
Energy Renaissance will be backed by engineering group UGL (recently bought by CIMIC), and partnering with US battery storage company 24M. The first phase of the plant, “Renaissance One”, will create four distinct production lines and will target niche utility and industrial scale markets in Australia and Asia, according to the company.
Energy Renaissance managing director Brian Craighead said it makes sense to build a gigafactory in Australia due to its demand for battery storage, abundant resources of lithium, cobalt and graphite, as well as its proximity to Asia.
The factory will focus on the utility, industrial, defence, telecommunications, mining, and off-grid industries, and approximately 70 per cent of production will be earmarked for export.