LG Energy Solution16 hundred million dollars (6GWh) ESS supply contract
LG Energy Solution 5month 28day, with DTE Energy of the United States, 16 hundred million dollars' worth of ESS battery supply. The volume to be supplied is 6GWh, and the supply period is approximately 2 years.
LG Energy Solution 5month 28day announced that it had signed a battery supply agreement with DTE Energy of the United States for ESS (energy storage systems). The contract is worth 16 hundred million dollars. The company officially disclosed the contract.
The total supply volume is 6GWh. The supply period is approximately 2 years, the company explained. The company disclosed the contract's detailed schedule and delivery plan.
The batteries under this contract will be used in projects underway in the US state of Michigan. DTE Energy described itself as the largest diversified energy company in Michigan. The supply will include power grid projects related to Oracle's AI data centers.
A total of 8core power grid construction projects are reportedly included among the supply projects. The project to build an AI data center for Oracle on the site is also included. The delivery region and intended use specified in the contract are reflected in the disclosure.
The company said it is expanding its production capacity in North America. It set a target of raising its production capacity in North America to 50 GWh by the end of the year. The market explained that this order would expand its North American business.
approximately 2 trillion 4,000 hundred million won. The company’s share price surged immediately after the contract announcement, rising 15% in a single trading day. LG Energy Solution said it views this contract as linked to additional orders from North American customers in the future.