SEOUL SEOUL: South Korea's leading battery maker LG Energy Solutions Ltd (LGES) on Friday said its US unit signed a multi-year agreement to supply energy storage systems (ESS) to a local renewable energy infrastructure investor. The company said in a press release that LG Energy Solution Vertec, Inc. Excelsior Energy will supply 7.5-gigawatt-hour (GWh) ESS units to Capital LP over several years starting in 2026.
The company did not specify the exact timeframe for the deal or its value, Yonhap news agency reported. The ESS units will be produced at LGES's U.S. facilities, with first deliveries in April 2026, the release said. “We have selected LG Energy Solutions Vertec to lead the project,” Anne Marie Denman, co-founder and partner of Excelsior, said in the release. Because of their ability to support us with exceptional services, software and products throughout the lifecycle. This partnership also gives us access to the full benefits of American made products.” U.S. The deal follows another deal signed last month to supply 8 GWh of ESS to local renewable energy firm Terra-Gen Power Holdings II, LLC for four years until 2029.
LGES expects the latest deal to expand its U.S. The unit received significant U.S. Will help obtain further ESS contracts in the market. In 2022, LGES acquired its parent company NEC Corp. From NEC Energy Solutions, a U.S. Acquired the entire stake in the non-automotive lithium-ion battery and system integration company, and renamed the company LG Energy Solution Vertech.
The purpose of this acquisition was to strengthen LGES's ability to provide fully integrated ESS solutions, including installation, maintenance and operational support. Last month, LG Energy Solution entered the U.S. Signed another long-term deal to supply energy storage systems (ESS) to renewable energy firm Terra-Gen Power Holdings II, LLC for four years until 2029.
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