The plans to construct a battery plant in Cambois, Northumberland, by Britishvolt have fallen through after several years of uncertainty. The Hyderabad-based company had anticipated creating a £3.8bn battery factory that would have aided the construction of electric vehicles. Britishvolt had promised to create at least 3,000 employment opportunities in the area. However, the company had trouble going into bankruptcy and running out of cash eventually.
The council of Northumberland County has accepted the possibility of selling the Britishvolt site. There has been consideration towards constructing a computer data centre with the funds resulting from the sale. Blackstone, the private equity company, is presently considering purchasing the Northumberland Energy Park (NEP3), the former site of Britishvolt. The plans are expected to draw in foreign investment of up to £10bn and produce over 1,600 employment opportunities, as well as 2,700 indirect ones.
Glen Sanderson, the council leader, has stated that up to £110m generated from amending the buy-back agreement on the NEP3 land would be handed to the council in exchange for the sale. The funds would create an investment fund intended for the financing of the Northumberland Line project and other initiatives. The investment company aims to establish a large computer centre, referred to as a hyperscale data centre campus on the grounds.
The Britishvolt saga, from the construction to the close, has served as a disappointing saga for the area, with many in the locality eager to gain employment at the supposed gigafactory. The council is now aiming to attract foreign investment to the area, with an emphasis on initiatives that will deliver substantial economic benefits. The council’s cabinet will meet on April 23 to evaluate the plans
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