LG Energy Solution announced on the 14th that it has signed a supply contract for a 7.5 GWh Energy Storage System (ESS) with Excelsior Energy Capital, a private equity firm specializing in renewable energy in the United States, through its U.S. subsidiary.
Under this contract, LG Energy Solution will begin supply in North America starting in 2026. The 7.5 GWh is the amount of electricity that approximately 750,000 households (based on four people) can use in one day.
The supplied product is the JF2 AC LINK, a container product based on LG Energy Solution's high-capacity Lithium Iron Phosphate (LFP) long cell 'JF2 cell'. This product has a higher energy density than conventional LFP batteries and features a water-cooled system with high cooling efficiency, enhancing performance and safety. It can also be flexibly designed according to the customer's intended use through modular design.
Recently, although the electric vehicle market is experiencing a downturn due to a prolonged chasm (temporary demand slowdown), the ESS market is showing rapid growth. The global ESS market is expected to maintain an average annual growth rate of over 20% centered around the power grid until 2028.
Kim Hyung-sik, executive vice president of LG Energy Solution's ESS battery division, noted, 'Through this contract, we have established a long-term partnership with Excelsior Energy Capital,' adding that 'we will successfully support the project and provide the highest customer value through differentiated product competitiveness and system integration capabilities.'