LG Energy Solution Vertech Secures 10 GWh ESS Project in US

LG Energy Solution Vertech Secures 10 GWh ESS Project in US

LG Energy Solution Vertech has secured 10 gigawatt-hours (GWh) of grid-scale battery energy storage (ESS) projects in the United States for the upcoming year, capitalizing on the potential foreseen in the US ESS market.

This 10 GWh initiative encompasses the development of 10 integrated battery energy storage systems.

The collective impact of these installations will effectively translate to redirecting nearly 8 million pounds of coal or mitigating 16 million pounds of CO2 emissions annually, according to the Environmental Protection Agency’s Greenhouse Gas Equivalencies calculator. As per LG Energy Solution Vertech, this project assortment signifies in seamlessly integrating dependable and financially feasible energy storage solutions that optimize project returns on investment.

All these ventures will incorporate advanced lithium-ion batteries crafted by LG Energy Solution, complemented by LG Energy Solution Vertech’s provision of hardware integration, system control software, and associated services. The deployment of the AEROS™ software suite across all sites will grant end-users both on-site supervisory and control services, alongside cloud-based access to comprehensive performance analytics.

AEROS™ users will benefit from advanced AI and machine learning analytics to optimize project revenues and leverage the software’s digital capabilities for resource planning insights.

Jaehong Park, CEO and President of LG Energy Solution Vertech, emphasized, “Being chosen by seasoned US project developers validates our comprehensive approach within the market. The advantages derived from a global battery company integrating storage systems coupled with warranties supported by a financially robust entity like LG Energy Solution are compelling. These achievements align with the passage of the IRA, legislation that further solidifies our conviction that the US energy storage industry is poised for sustained expansion, particularly as large-scale battery manufacturing facilities come online in the next 2-3 years.”

Capitalizing on the boom in ESS Market

According to the Q4 2023 US Energy Storage Monitor, a joint publication by Wood Mackenzie Power & Renewables and the American Clean Power Association (ACP), the 2024 grid-scale ESS market is anticipated to achieve a total of 30GWh, representing a 35% surge from 2023, showcasing the US market’s adherence to projected potential.

In a push to the burgeoning US energy storage market, LG Energy Solution has disclosed plans to construct a battery manufacturing complex in Queen Creek, Arizona. This complex will house two manufacturing facilities: one for cylindrical batteries tailored for electric vehicles (EVs) and another for lithium iron phosphate (LFP) pouch-type batteries intended for energy storage systems (ESS). The ESS facility is poised to deliver 16 GWhs of energy storage batteries, maximizing IRA benefits for customers.

Hyung Kim, head of ESS business division at LG Energy Solution, stated, “Thanks to our innovative processing technology, the new Long-Cell based LFP batteries manufactured in Queen Creek, Arizona, will showcase enhanced energy density and safety. We are committed to further solidifying our presence in the North American power grid ESS market.”

Just a few days ago, LG Chem commenced the construction of a cathode plant in the U.S., intending to establish a production hub for the global battery material market. The facility, located in Montgomery County, Clarksville, Tennessee, will locally produce cathode materials optimized for North American electric vehicles (EVs) and collaborate with key partners from development to supply chain.