LG Chem, one of the world’s leading makers of lithium-ion batteries, has been selected by Southern California Edison to deliver the largest battery energy storage system in the U.S., the Seoul-based company chemicals company said on Wednesday.
The project, named Tehachapi Wind Energy Storage Project, funded by the Department of Energy, involves powering up a 32 MWh battery energy storage system for Southern California Edison, a dominant electricity supplier in Southern California, company officials said.
“This project is one of the big milestones built upon the synergies of LG Chem’s advanced battery technologies and experiences throughout its mobile, automotive and energy storage battery business,” said Kwak Seok-hwan, vice president of the Energy Solution Company at LG Chem. “Collaborating closely with Southern California Edison on this project will provide key performance data and real-world experience and this will be a stepping stone of LG Chem’s battery energy storage system business to strengthen its position as a leader of battery manufacturers.”
The batteries that LG Chem will be installing in the storage system are capable of providing electricity to about 100 homes for one month and are equivalent to the number of lithium-ion batteries used in approximately 2,000 Chevrolet Volt electric vehicles manufactured by General Motors.
For full article, see Korea Herald.
LG Chem and Samsung SDI compete with each other in an energy storage system (ESS) demonstration project with different types of secondary battery technologies.
In the smart grid distribution project led by the Korea Smart Grid Institute under the Ministry of Knowledge Economy, the consortiums of KT and the Korea Electric Power Industrial Development Corporation (KEPID), which have been selected as the preferred bidders, are predicted to adopt the batteries of LG Chem and Samsung SDI, respectively.
The purpose of the project is to save electricity at night, when the power rate is relatively lower, and use it during peak hours for more effective power supply. Advanced metering infrastructure (AMI) monitors and controls household power usage remotely in real time.
For full article see Korea IT News.
GS Group chairman Huh Chang-soo on Friday stressed smart grids as key to the future growth and climate efforts of Korea’s fifth-largest industrial group.
Huh called on company officials to develop new technologies and boost commercialization capabilities for the conglomerate’s signature energy business during his tour to smart grid test-bed facilities on Jeju Island.
The nascent technology enables transferring electricity loads to off-peak hours via a two-way, real-time communication between power suppliers and consumers.
“We need to transition to a low energy consumption society through rational and efficient power use,” he was quoted as telling officials from GS Caltex Corp. and GS Engineering & Construction.
For full article, see Korea Herald.
South Korean lithium-ion (Li-ion) battery manufacturers surpassed their Japanese counterparts in terms of global market share for the first time last year. Li-ion batteries are equipped in IT products such as laptops and mobile phones, and Korean and Japanese companies dominate 74 percent of the global Li-ion battery market.
Korea’s Samsung SDI and LG Chem took a 39 percent share in the global Li-ion battery market last year and exceeded the combined market share of Japanese manufacturers on a yearly basis for the first time, according to a report of Japanese market researcher Techno Systems Research Monday. The two Korean companies’ combined market share was higher than that of their Japanese counterparts, Panasonic, Sony, and Hitachi, by four percentage points.
For full article see Maeil Business.