LG Energy Solution, DTE 2.4trillion-won ESS supply deal sends shares 15% higher
LG Energy Solution has signed a large-scale contract to supply ESS batteries for Oracle data center power infrastructure with U.S. energy company DTE Energy. The contract is reportedly worth 2.4trillion won, and shares rose 15% on the news.
LG Energy Solution said it had signed a large-scale contract to supply ESS batteries with U.S. energy company DTE Energy on 5, 28. The contract is reportedly for Oracle's data center power infrastructure. The company disclosed the contract.
The contract was reported to be worth 2.4trillion won. After the news broke, the company's shares surged 15%. Trading picked up, drawing investor attention.
Deliveries are scheduled for 2026–2027 over the course of the years. The contract is reported to include ESS battery deliveries. Details of the delivery schedule and installment payment terms can be confirmed in future disclosures.
The company presented plans to expand its production capacity in North America. Its North American production capacity target for this year is 50GWh. The target is reportedly intended to meet demand related to the reported contract.
This contract is classified as an example of an expanded ESS supply volume. DTE Energy is the buyer, and the contract is intended to support Oracle data center power infrastructure. Any additional contracts or detailed terms should be confirmed in the company’s future disclosures.
Investors should check the company’s disclosures and quarterly earnings announcements for detailed delivery schedules and the timing of revenue recognition. Detailed company disclosures are available on the company’s website and through the disclosure system. Any future related disclosures should be assessed based on official materials released by the company.