LG to supply energy storage to U.S. renewable firm
Published: 14 Nov. 2024, 18:11
![This photo, provided by LG Energy Solution, shows its ESS product equipped with lithium-iron phosphate batteries. [LG ENERGY SOLUTION]](https://koreajoongangdaily.joins.com/data/photo/2024/11/14/0ad4c08d-e7ce-4344-9a84-2e1aff58ab3a.jpg)
This photo, provided by LG Energy Solution, shows its ESS product equipped with lithium-iron phosphate batteries. [LG ENERGY SOLUTION]
LG Energy Solution, Korea's leading battery maker, said Thursday its U.S. unit had signed a long-term deal to supply energy storage systems (ESS) to a domestic renewables developer.
LG Energy Solution Vertech will supply 8-gigawatt-hour (GWh) ESS systems to U.S. renewable energy firm Terra-Gen Power Holdings II LLC. for four years through 2029, the company said in a statement.
The company didn't provide the value of the contract.
In 2022, LG Energy Solution acquired the entire stake in NEC Energy Solutions, a U.S. nonautomotive lithium-ion battery and system-integration company, and changed tits name to LG Energy Solution Vertech.
The acquisition aimed to strengthen LG's ability to provide fully integrated ESS solutions including installation, maintenance and operational support.
LG Energy Solution said the deal with Terra-Gen would help its U.S. unit obtain further ESS deals in the U.S. market.
Yonhap
with the Korea JoongAng Daily
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