A planned $2.6 billion factory in Coweta County has been cancelled by a battery manufacturer, resulting in the repayment of funds previously granted by local and state governments.
According to the Atlanta Business Chronicle, Freyr Battery has entered into an agreement to sell its 368-acre site south of Newnan for $50 million. The property is located at Interstate 85 and Bethlehem Church Road near the Newnan-Coweta County Airport. Freyr had originally purchased this land for $42.2 million in late 2022.
Freyr had initially announced plans for their Georgia project back in 2022 with promises of creating over 700 jobs. They received a significant incentive package from local authorities and made Newnan their headquarters before shifting their focus towards renewable energy.
In recent months, there has been increased interest from data center developers and homebuilders targeting Coweta County as a potential location for projects such as a proposed $17 billion data center proposal that emerged earlier this year and a nearly-700 home development pitched last November.
