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German energy storage company Tesvolt has announced that is progressing the development of what it says will be the first factory in Europe capable of supplying 1GWh battery storage storage systems.

The facility, entirely powered by solar energy, will be based in Lutherstadt Wittenberg.

The company's products use prismatic lithium battery cells made by Samsung SDI, based on nickel manganese cobalt oxide.

The first-phase of construction involves 12,000 square meters of factory floor space, and is expected to be finished by June 2019, with the final phase comprising 20,000 square meters, but the company hasn’t yet provided a completion date.

Tesvolt has said it is financing the "multi-million-euro investment" independently, without any additional funding bar a 10% funding allocation from the EU for production line costs.

The energy storage market is heating up with the announcement of several large storage production projects. Here's a two-minute video on the biggest projects underway globally.