News Roundup
Ultium Receives Conditional Commitment for $2.5 billion Loan Guarantee
On 25 July, 2022, the U.S. Department of Energy (DOE) announced that it has made a conditional commitment to guarantee a $2.5 billion loan to Ultium Cells to support the construction of three battery cell factories in the United States. Ultium is a joint venture between Korea’s LG and General Motors, and plans to build facilities in Michigan, Ohio, and Tennessee to make large-format nickel-cobalt-manganese-aluminum cells for use in EVs.
Under solar industry pioneer Jigar Shah, the DOE’s Loans Programs Office issued its first loan guarantee in nearly a decade to the ACES green hydrogen storage and generation project in Utah in June 2022. DOE also issued a conditional commitment to Syrah Technologies to build a graphite-based active anode material processing facility in Louisiana in April 2022.
Source: LPO Offers Conditional Commitment for Loan to Build New EV Battery Cell Manufacturing Facilities in Ohio, Tennessee, Michigan (Loan Programs Office)
TVA Seeks 5 GW of Carbon-Free Electric Generation
On 11 June, 2022, the Tennessee Valley Authority issued a request for proposals for up to 5 gigawatts of carbon-free generation that must come online by the end of 2028. Eligible generation sources include solar, wind (onshore or offshore), hydro, geothermal, biomass, nuclear, “green gas,” and battery energy storage, or any combination of these resources. TVA will require that developers submit proposals by 19 October, 2022.
TVA is a federally owned electric power company that provides wholesale electricity to utilities serving roughly 10 million people in Tennessee and parts of six other states in the U.S. South. It has a goal of reducing the greenhouse gases emissions from its operations 70% by 2030.
Source: TVA Issues One of the Nation’s Largest Requests for Carbon-Free Energy (TVA)
GM, EVgo, and Pilot Plan Nationwide Fast-Charging Network
Pilot, the owner of the nation’s largest truck stop chain, has partnered with General Motors (GM) and charging company EVgo to build out a network of 2,000 fast-chargers at up to 500 locations spanning the continental United States. Unlike Tesla’s Supercharger network, this network will be open to all EVs. However, GM customers will receive special benefits at Pilot Company’s Pilot Flying J locations. A map provided by Pilot shows a particularly high density of chargers in the Midwest and South. These chargers are in addition to an EVgo/GM partnership to build more than 3,250 charging stations in U.S. cities and suburbs by the end of 2025.
Source: GM and Pilot Company to Build Out Coast-to-Coast EV Fast Charging Network (Pilot Company)
Panasonic Chooses Kansas for $4 Billion EV Battery Factory
Panasonic has announced that it has provisionally chosen DeSoto, Kansas as the location for a new $4 billion factory to produce lithium-ion batteries for electric vehicles. Panasonic currently produces cells for Tesla, and CEA has concluded that this will likewise be a battery cell facility.
In its statements, Panasonic has sited the approval of a state incentive program for large businesses as a key factor, and Canary media reports that Panasonic will receive $829 million in tax breaks in exchange for meeting hiring targets. Panasonic has said that it will hire 4,000 workers for the site. According to state officials cited by Canary Media, the shell of a 4-million square foot facility could be completed next fall, allowing for the installation of manufacturing tools.
Source: Panasonic Energy and Kansas Partner to Advance Plans for US-based EV Battery Facility (Panasonic Energy Co. Ltd.)
Georgia Power Plan with 3.2 Gigawatts of Renewables Approved
On 21 July, 2022, regulators in the U.S. State of Georgia approved Georgia Power’s latest long-term plan, which includes procuring an additional 2300 megawatts of renewable energy over the next three years, as part of 6000 megawatts to be added by 2035. Under the plan, by 2028 the utility will also retire all its coal-fired power plants except one, Plant Bowen. Georgia Power further plans to procure an additional 2000 megawatts of electricity from natural gas-fired generators, and to make investments in its legacy hydroelectric plants.
Source: Georgia Power’s transformational plan for state’s energy future approved, helps ensure company will continue to meet needs of customers and state (Georgia Power)
