LS ELECTRIC and Samsung C&T have established a joint venture, "EnerCrest," to promote a U.S. battery energy storage system (BESS) project, as announced on the 26th.
The two companies plan to maximize their business value by jointly advancing the 500-megawatt (MW) BESS project being developed by Samsung C&T's renewable energy development institution in the U.S.
LS ELECTRIC is expanding its local energy new business, starting with its first investment in EnerCrest, after completing the registration of its North American investment corporation, LS ELECTRIC Investment, in November last year.
LS ELECTRIC aims to maximize business value by collaborating on Samsung C&T's 500 MW BESS project currently in development through EnerCrest, and to emerge as a global comprehensive energy storage system (ESS) corporation by expanding its ESS lines into North America following Japan and Europe.
An official from LS ELECTRIC noted, "The primary goal is to successfully complete the first project based on the technology and expertise both companies possess, and we will firmly establish ourselves in the energy new business market by discovering various opportunities and expanding investments in North America through LS ELECTRIC Investment."