Image: LG Energy Solution
LG Energy Solution said on Thursday that is has completed the supply of batteries for energy storage systems (ESS) to US company Vistra based in California.
The South Korean battery firm supplied 1.6GWh worth of batteries for the system.
The amount is enough to power 300,000 households in California, LG Energy Solution said.
Vistra is planning to spend US$5 billion to build ESS with 6GWh capacity, in four phases.
LG Energy Solution said it plans to expand its supply of ESS batteries to the US and Europe going forward.
The company supplied 14.8GWh worth of ESS batteries last year.
Kiwoon Securities analyst Kim Doo-hyun said in his latest report that LG Energy Solution could focus on household ESS market as the Joe Biden administration in the US is pushing clean energy policies.
According to market research firm SNE Research, last year’s global ESS market was worth 23.7GWh. This will grow 26% per year on average up to 2025 when the market will be worth 94.2GWh, the firm said. In 2025, demand from the US will 36.9GWh out of that total, SNE Research has said.