Excelsior Energy to source US energy storage from LG Energy Solution Vertech
From pv magazine USA
A new partnership between renewable investor Excelsior Energy Capital and battery manufacturer LG Energy Solution Vertech highlights the US energy storage industry’s push to prioritize a domestic supply chain.
The companies entered a multiyear agreement that will provide 7.5 GWh of fully-integrated lithium-ion energy storage from LG Energy Solution’s energy-storage division, LG Energy Solution Vertech for Excelsior’s standalone and hybrid energy storage projects in the United States.
Notably, the companies report that the projects will meet domestic US content requirements and are scheduled to start delivery in April 2026.
The global market for energy storage systems (ESS) is on the cusp of a remarkable expansion, driven by a push for innovative, sustainable energy policies. Wood Mackenzie, for example, predicts that the North American ESS market will grow to 103 GWh in 2030 from just 12 GWh in 2022.
The energy storage projects will use LG Energy’s containerized lithium-ion battery systems, which will be equipped with lithium iron phosphate (LFP) long cells that are designed to optimize energy efficiency and enhance safety. The company said in September that it sees lithium iron phosphate (LFP) technology as one of four strategies to expand its US market business.
In October, LG Energy said it would start ESS battery production in the United States, so it could “maximize the benefits from policies supporting local manufacturing.”
To continue reading, please visit our pv magazine USA website.
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