LSIS and Macquarie Capital Signs MOU For Solar Power and Energy Storage System

The recently signed MOU will enable LSIS’s expansion of new business strategies to strengthen and help raising financial funds.

South Korean manufacturer for electric automation equipments and electric power, LS Industrial Systems Co. (LSIS) and Macquarie Capital in order to progress in the competitive scenario in the solar power and energy storage system (ESS) operation sector has signed a memorandum of understanding (MOU) notified LSIS

on November 23, 2017.

Senior officials like Oh Jae-seok, head of power business operations at LSIS, and David Roseman, head of global infrastructure at Macquarie Capital were present at the occasion and expertise and know-how in the domestic solar power project and photovoltaic ESS construction sectors were also exchanged between the two.

The recently signed MOU will enable LSIS’s expansion of new business strategies to strengthen and help raising financial funds, also boosting the solar power ESS business and Macquarie Capital will achieve its objective of infusing continuous investment in the smart energy sector.

The Morning Solar Power plant in Goesan County, North Chungcheong Province of 7-megawatt ESS costing US$2.76 million will be their introductory project, which is the recently acquired affiliate of Macquarie Capital’s 3-megawatt power plant at the same site. The Engineering, Procurement and Construction (EPC) as well as operation and management (O&M) will be directed under LSIS. Notably, the development of power projects in South Korea and their investments will be taken care of by Macquarie Capital.

Source: Business Korea