Excelsior to source U.S.-made energy storage from LG Energy Solution Vertech

Rachel Metea | Source: PV Magazine | Posted 12/27/2024

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A new multiyear agreement will provide 7.5 GWh of fully-integrated lithium-ion energy storage, expected to qualify for the domestic content bonus.

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A new partnership between Excelsior Energy Capital and LG Energy Solution Vertech is set to provide 7.5 GWh of lithium-ion energy storage for energy projects in the U.S., meeting domestic content requirements and starting delivery in April 2026. The partnership aims to support the growing U.S. energy storage industry, as Wood Mackenzie predicts a significant growth in the North American ESS market from 12 GWh in 2022 to 103 GWh in 2030.

LG Energy Solution is making substantial investments in battery production facilities in the U.S., capitalizing on policies that support local manufacturing. The partnership between Excelsior and LG Energy not only ensures supply chain stability and financial assurances but also aligns with Excelsior's commitment to clean-energy development in key locations across the country, enhancing their portfolio that includes various renewable projects and partnerships.

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Source Link: https://pv-magazine-usa.com/2024/12/26/excelsior-to-source-u-s-made-energy-storage-from-lg-energy-solution-vertech/

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Excelsior to source U.S.-made energy storage from LG Energy Solution Vertech

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