A subsidiary of South Korean battery maker LG Energy Solution (LG ES) has signed a four-year supply agreement for battery energy storage systems with US developer Terra-Gen.
On 14 November, LG Energy Solution announced a transaction agreement between its subsidiary, LG ES Vertech, and Terra-Gen, a California-based renewable energy independent power producer (IPP).
Under the agreement, LG ES Vertech will supply Terra-Gen with ‘up to 8GWh’ of containerised lithium iron phosphate (LFP) battery energy storage systems (BESS) and solutions between 2026 and 2029. The BESS solutions will be manufactured in North America.
System integrator LG ES Vertech was founded in 2022 with the ‘motivation’ to capitalise on the full value chain opportunities in the world's largest energy storage market after China, namely the US market. To this end, LG ES acquired the assets and intellectual property of NEC Energy Solutions.
This includes AEROS, NEC Energy Solutions' machine and AI-driven control and energy management software platform, which will be supplied to Terra Gen along with the hardware.
LG ES said that as of December 2023, Vertech has signed (including negotiated intentions) 10GWh of systems integration orders with North American customers. The signing with Terra Gen is the subsidiary's largest transactional order to date.
Source : https://mp.weixin.qq.com/s/ZjSBoyPOGEXWMv0V6waBaA