LG Energy Solution Secures ESS Supply Agreement with U.S. Firm
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Seoul, Dec 20 (NationPress) LG Energy Solution Ltd (LGES), a leading battery manufacturer in South Korea, announced on Friday that its U.S. division has secured a multi-year contract to deliver energy storage systems (ESS) to a regional investor focused on renewable energy infrastructure.
LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP over the span of several years starting in 2026, according to a press release from the company.
The exact timeline and financial details of the agreement were not disclosed, as reported by Yonhap news agency. The ESS units are set to be manufactured at LGES' U.S. facilities, with the initial delivery anticipated for April 2026, the release stated.
Anne Marie Denman, co-founder and partner of Excelsior, expressed confidence in the partnership, stating, "We chose LG Energy Solution Vertech due to their capability to assist us throughout the entirety of the project with outstanding services, software, and products. This collaboration also allows us to fully leverage the advantages of products made in the U.S."
This U.S. agreement follows a previous contract signed last month for the provision of 8 GWh of ESS to the local renewable energy company Terra-Gen Power Holdings II, LLC, covering a four-year period until 2029.
LGES anticipates that these recent agreements will enable its U.S. branch to secure additional ESS contracts within the expansive U.S. market.
In 2022, LGES acquired the complete stake in NEC Energy Solutions, a U.S.-based nonautomotive lithium-ion battery and system integration company, from its parent company NEC Corp., subsequently rebranding the company to LG Energy Solution Vertech.
The acquisition was intended to enhance LGES' capability to deliver fully integrated ESS solutions that encompass installation, maintenance, and operational support.
Last month, LG Energy Solution finalized another long-term contract to supply energy storage systems (ESS) to U.S. renewable energy company Terra-Gen Power Holdings II, LLC for four years through 2029.
