Agreement provides 7.5 GWhs of integrated energy storage projects
Products will meet U.S. domestic content requirements
WESTBOROUGH, Mass., Dec. 19, 2024 /PRNewswire/ — LG Energy Solution Vertech announced today the signing of a multi-year agreement with Excelsior Energy Capital (Excelsior). This agreement provides 7.5 GWhs of fully integrated lithium-ion energy storage projects that will be supported with integration and lifecycle services from LG Energy Solution Vertech.
All projects will meet domestic content requirements and will be delivered to the U.S., with the first delivery slated for April 2026.
The agreement builds on the growth of LG Energy Solution Vertech in the U.S. in the grid-scale battery energy storage market, following the recent announcement of an 8 GWh agreement with Terra-Gen, Inc. It also secures energy storage projects that meet domestic content requirements in Excelsior’s diversified energy storage portfolio.
“We’re looking forward to partnering with LG Energy Solution Vertech as we build our presence in the U.S. energy storage market,” said Anne Marie Denman, Co-Founder and Partner of Excelsior. “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.”
Excelsior Energy Capital is one of the most experienced renewable teams investing in mid-market operating and post-development wind and solar generation in North America. The company invests in renewables with a differentiated strategy addressing North American renewable power generation, targeting low risk, long term, stable yields with low correlation to other asset classes, actively raising and deploying capital.
“Excelsior is thoughtfully establishing projects in the US,” said Hyung Kim, Head of ESS Battery Division at LG Energy Solution, the parent company of LG Energy Solution Vertech. “We place great value in being a long-term partner to our customers, supporting projects throughout their lifecycles with services and software that enable success well beyond project commissioning. We look forward to seeing the projects under this agreement make meaningful, lasting impacts on the energy grid.”
All projects will incorporate the latest LG Energy Solution containerized lithium-ion battery solutions with LFP long cells designed to optimize energy efficiency and enhance safety. LG Energy Solution Vertech will provide all system integration services, the AEROS™ software controls and analytics suite, and related services to support the systems and operators throughout project lifecycles.
Comments