This file photo provided by LG Energy Solution Ltd. shows its ESS products equipped with lithium iron phosphate batteries. (Image courtesy of Yonhap)
SEOUL, Dec. 20 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Friday its U.S. unit has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor.
LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP over several years starting from 2026, the company said in a press release.
The company didn’t provide the exact timeframe for the deal, or its value.
The ESS units will be produced at LGES’ U.S. plants, with the first delivery slated for April 2026, the release said.
“We selected LG Energy Solution Vertech because of their ability to support us throughout the project lifecycle with exceptional services, software and products. We also gain access to the full benefits of U.S. manufactured products with this partnership,” Anne Marie Denman, co-founder and partner of Excelsior, said in the release.
The U.S. deal follows another deal signed last month to supply 8 GWh ESS to local renewable energy firm Terra-Gen Power Holdings II, LLC. for four years through 2029.
LGES expects the latest deals will help its U.S. unit obtain further ESS contracts in the significant U.S. market.
In 2022, LGES acquired the entire stake in NEC Energy Solutions, a U.S. nonautomotive lithium-ion battery and system integration company, from its parent NEC Corp., and changed the company’s name to LG Energy Solution Vertech.
The acquisition was aimed at strengthening LGES’ ability to provide fully integrated ESS solutions that include installation, maintenance and operational support.
(Yonhap)
