Global demand for batteries for energy storage system (ESS) applications will grow 30% during this year, with the US leading the charge, LG Energy Solution has predicted.

Eesti Energi has completed the procurement for its 26.5MW/51MWh BESS, the first of that scale in Estonia, with LG Energy Solution among the successful parties.

The new system integrator arm of South Korean battery and storage system manufacturer LG Energy Solution has already racked up 10GWh of project orders in the US.

Advanced lithium iron phosphate (LFP) cell design and localising production are among chief strategies for differentiation in the US for LG Energy Solution, according to the company’s ESS division head.

Element Energy’s large stock of batteries for second life energy storage are mostly LG batteries recalled from EVs in the last few years due to fire safety concerns, a source told Energy-Storage.news.

LG Energy Solution sees lithium iron phosphate (LFP) battery production to meet demand for stationary energy storage systems (ESS) in the US market as a “new growth engine” for the South Korean manufacturer.

LG Energy Solution will build a cell factory with 16GWh of annual production capacity dedicated to the stationary energy storage market.

LG Energy Solution has joined the global Task Force on Climate-related Disclosures (TFCD).

LG Energy Solution has said that the US is its most important target market, as the company reported record quarterly revenues for Q3 2022.

LG Energy Solution has seen a drop in its profitability which according to the company’s CFO was largely caused by industry headwinds.