Germany Takes On €600 Million in Northvolt Debt After Insolvency
The Northvolt Dwa battery systems plant in Gdansk, Poland.
Photographer: Damian Lemanski/BloombergThis article is for subscribers only.
Germany will assume more than €600 million ($629 million) of debt that its development bank extended to Northvolt AB for the construction of a battery plant in the country.
The federal government will this month reimburse lender KfW for the value of a convertible bond and related costs, a spokesman for the economy ministry said in an emailed response to questions from Bloomberg.