That SPD accused the black-green state government of inadequate information policy in the Northvolt case. “We find it very foolish that the state government is prepared to pay additional tax funds to Lyten, even though it is unclear what exactly their plans are for the site,” said SPD economist Kianusch Stender of the German Press Agency. The background is the government’s response to the budget question from the SPD.
Stender has from State government wanted to know how the end of the TCTF European funding program at the end of 2025 would affect state budget authorizations in Northvolt’s case. In early 2024, the EU Commission approved direct funding for the now bankrupt Swedish company worth around 700 million euros (136.4 million euros from the state, 564 million from the federal government). This money has not been paid.
Based on the response, the state government plans to “also use the authorization for the TCTF (Clean Industrial Deal State Aid Framework – CISAF) successor program”. “We are not against support per se, but previous mistakes must not be repeated,” Stender said. However, before funding can be awarded, Lyten must have a strong business plan.
SPD calls for a business plan
“They need to tell us clearly what needs to happen at this location. We have requested this business plan from Lyten boss Dan Cook and the state government, but have received nothing so far,” Stender said. US company Lyten wants to take over all Northvolt sites. But the deal is not yet complete.
Money sinking?
The company has received 600 million euros from state development bank KfW via convertible bonds for plans to build a factory near Heide. The federal and state governments each guarantee half of that amount. In addition, there is 20 million euros in interest and procedural costs. According to dpa information, only less than half of the money is still available in the blocked accounts.
“The state government’s information policy raises major concerns for us,” Stender said. Before funding can be awarded, Lyten must have a strong business plan. “This is justified for some documents and conversations, but I don’t think for all of them.”
The opposition politician assumed that the state’s share of 300 million euros in convertible bonds for Schleswig-Holstein had been lost. “It may be that certain amounts will eventually flow back due to legal subtleties, but most of them are no longer in blocked Northvolt 3 accounts; many of them have already been blocked.” This money is gone.
The Energy Coast must remain a business location
The initial idea behind convertible bonds, which would later receive shares or remittances to help these start-ups, has been worked out, Stender said. “The money was used at a location near Heide. And because at least Northvolt is no longer building this factory, the money that was actually just a loan was wasted. This means that 110 hectares of industrial land has been developed for a battery factory.”
“It was important to us that something actually happened on site,” Stender said. “We see that this economic engine is needed in the energy sector.” SPD is behind this project. “We just want everything to happen safely and for the tax money of the people of Schleswig-Holstein to be handled responsibly.”
© dpa-infocom, dpa:251116-930-298508/1
