LS ELECTRIC Wins 120 Billion Won ESS Project from UK

Notables, including LS ELECTRIC President Kim Jong-woo, attend a ground-breaking ceremony for a project to build a 50MW power conversion system and a 114MWh battery ESS system in the Botley area, UK, on June 9. (Photo: LS ELECTRIC)

LS ELECTRIC, which has exported an energy storage system to Europe, is hitting the gas to expand into the ESS market there.

LS ELECTRIC landed a project to build a 50MW power conversion system and a 114MWh battery ESS system.

The value of the project stands at about 120 billion won: 84 billion won for EPC and 36 billion for O&M. The period of the project will last until next June.

The latest project is the largest ESS project LS ELECTRIC has landed abroad. The project calls for building an ESS system, which will stably supply electricity produced from the Botley area to the transmission network of the National Grid, UK’s public entity.

LS ELECTRIC is responsible for building an ESS system and its operation, such as EPC and O&M, by making the most of smart energy capabilities the company has accumulated in the course of implementing projects in Korea and abroad. Energy Storage Systems are systems that store and manage electricity so it can be used when necessary.

Starting with the implementation of the ESS project in UK, LS ELECTRIC plans to accelerate efforts to make inroads into the European renewable market.

LS ELECTRIC has secured technologies related to renewable energies, such as the modular scalable string platform, a next-generation ESS platform, developed by the company to penetrate the global industry ESS market.

The company is expected to bear tangible outcomes there by making the most of overseas business capabilities it has accumulated from the United States and Japan on top of the technologies.

The UK and other European ESS markets are growing fast in context with international energy price hikes and the expanding use of renewable energies, such as photovoltaic power and wind power in accordance with each country’s policies of reducing greenhouse gas emissions.

In particular, UK and German ESS markets account for more than 60 percent of Europe’s total. UK aims to achieve “Net Zero Target” by 2050.

An LS ELECTRIC official said, “As global demand on renewable energies is on the rise, the importance of ESS is growing, and with high probability of landing additional orders from Europe, including UK, we’ll strive to achieve tangible outcomes and make the smart energy business as a future growth engine.”

LS ELECTRIC Unveils Next-Generation Strategic Products at Hannover Messe 2023

LS ELECTRIC released a wide range of smart energy solutions, combining the global top-tier power and automation industries and ICT at Hannover Messe 2023.

LS ELECTRIC participated in Hannover Messe 2023 under the main conception “Sustainable Future with Digitalized Energy Solution: and showcased smart power and automation total solution capabilities. The fair lasted from April 17 to April 21.

Foreign customers were given the chance to experience LS ELECTRIC’s solutions in person under the two themes: “Energy Management” and “Digital Manufacturing.”

The company displayed DC-based power distribution solutions, such as solid state transformer (SST) and solid state circuit breaker (SSCB) at the front of its pavilion whose exhibition area covers 189 sq. meters.

LS ELECTRIC Sets Up Joint Venture in Turkey to top Industry Automation Business Market

LS ELECTRIC established an industry automation joint-venture with a Turkish company, the company’s first joint-venture since its inception.

The move is part of LS ELECTRIC’s efforts to realize Chairman Koo Ja-kyun’s initiative of exploring global markets.

Business sources said that LS ELECTRIC set up a joint venture with ANT, a Turkish technology manufacturing company in late March.