Phoenix/ Real Estate & Development
AI Assisted Icon
Published on February 28, 2024
Buckeye on the Brink of Battery Boom as KORE Power Proposes $1 Billion KOREPlex, Awaits Planning Commission's VoteSource: X/KORE Power

KORE Power is gearing up to potentially break ground on its colossal battery plant in Buckeye, with the town's planning commission scheduled to cast their pivotal vote on the finalized site plan this week. As reported by ABC15, Coeur d'Alene, Idaho's own KORE Power Inc. has the wheels turning on some initial groundwork, yet the major construction of the KOREPlex, its proposed manufacturing hub sprawled just east of State Route 85 and a stone's throw south of Baseline Road, hinges on this green light.

The company's blueprint, which is poised to expire by February 2026 if a building permit remains on the table, underscores an investment surpassing the $1 billion mark. With the blueprint unfolding over a million square feet, KOREPlex's inaugural phase involves a mammoth 908,880-square-foot production facility along with a 27,930-square-foot administrative nucleus, flanked by a conglomerate of 14 storage and ancillary units, as detailed in the site scheme to Buckeye officials, ABC15 unveiled.

Turning its gaze towards sustainable solutions, the first phase is slated to churn out 6 gigawatt-hours of high-density power cells, tailored for electric vehicles and energy storage systems utilizing both nickel manganese cobalt and lithium-ion iron phosphate chemistries. This inaugural wing will also play host to an Arizona Public Service electrical substation and switchyard, rounded off by 1,216 solar-shaded parking spaces, with access channeled through a roundabout crowning the west side entrance, guiding visitors towards the central office.

The second act of KORE Power's industrial symphony will introduce an extra 907,918 square feet dedicated to manufacturing, supplementing the facility with additional supportive structures. The grand vision for the KOREPlex, sprawling across a 200-acre canvas, is to embody a marvel of over 2 million square feet with edifices peaking between 30 and 76 feet, according to information obtained by the Business Journal. Yates Construction steps in as the general contractor, with engineering heavyweight SSOE Group submitting the formal site application on behalf of KORE Power.

A promise of economic revitalization looms, as the KORE Power spokesperson tagged the first phase as a job creation engine, set to introduce over 1,600 jobs, swelling to a workforce of 3,000 with phase two, as per a Business Journal interview. This employment boom sets KORE Power on a trajectory to become one of Buckeye's largest employers. The city spokesperson outlined, "The site plan is the final item needed to be voted on by Buckeye's planning commission with the exception of a minor subdivision that could be voted on in a consent agenda without public discussion," echoing the significance of this decisive moment.

Meanwhile, KORE Power's financial engine received a shot of adrenaline last year with a conditional nod for an $850 million loan from the U.S. Department of Energy earmarked for phase one construction in Buckeye. Currently, the firm is liaising with the Department to seal the deal, as revealed by a company spokesperson. The company is also onboarding strategic leaders for its endeavor, including a recent appointment of Michael Canada as the new chief operating officer.

As the energy sector's eyes are fixed on Arizona, the KOREPlex finds itself in good company. The state is pivoting to become a hub for battery manufacturing, with tech heavyweight LG Energy Solution plotting a $5.5 billion battery plant across the Valley, and American Battery Factory mapping out a $1.2 billion production campus down in Tucson. This puts Arizona at the nexus of a burgeoning battery manufacturing revolution.

Phoenix-Real Estate & Development