Commercial

LG Energy Solution supplies energy storage system (ESS) batteries to Hanwha Solutions’ Q CELLS division

Published in Business Korea. Article translated from Korean.

May 20, 2024 by Michael Herh

LG Energy Solution will supply energy storage system (ESS) batteries to Hanwha Q CELLS, a division of Hanwha Solutions. They took a big step in their strategic collaboration.

According to industry sources on May 17, LG Energy Solution recently signed a contract with Hanwha Q CELLS’ U.S. subsidiary to supply ESS batteries totaling 4.8 gigawatt hours (GWh). The specific size of the contract is under wraps, but it is said to be the single largest ESS project which LG Energy has ever won in the history of global grid ESS projects. The contract runs through October 2026, and the ESS batteries will go into ESSs in La Paz County, Arizona of the United States.

In addition to the batteries, the project will also include system integration (SI) from LG Energy Solution’s Vertech. LG Energy Solution Vertech is a subsidiary specializing in ESS SI that LG Energy Solution officially launched in 2022.

LG Energy Solution and three Hanwha Group affiliates (Hanwha Q CELLS, Hanwha Corp.’s Momentum Division, and Hanwha Aerospace) signed a memorandum of understanding (MOU) in 2023 to cooperate in battery-related businesses including the ESS business. This agreement was signed based on the result of the cooperation between LG Energy Solution and Hanwha Group.

출처 : Businesskorea

Click here to read the article in Korean.

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