South Korean battery-maker LG Chem said Tuesday that it has teamed up with GS E&R, a local power generator, to build the world’s largest wind power storage system in Yeongyang, North Gyeongsang Province.
The ESS will have a storage capacity of 50 megawatt hours, which can power some 5,000 households per day. The batteries are the equivalent of those used for 2,700 units of GM’s Volt plug-in hybrid.
GS E&R has recently completed the turbine construction and carried out the pilot operation since September.
Wind power is getting more competitive as a renewable energy source, largely boosted by the falling project cost. But power generation is impossible when there is no wind. The ESS aims to effectively manage the power generation and storage.
Starting with the latest deal, LG Chem and GS E&R also agreed to extend partnership in the future projects.
|Wind turbines operate at a wind power generation site developed by LG Chem and GS E&R in Yeongyang, North Gyeongsang Province. LG Chem|
“It is meaningful for us to build the world’s largest wind ESS in a technological partnership with the nation’s leading wind power generator GS E&R,” said LG Chem CEO Kwon Young-soo.
“We will lead the Korean market, which is expected to grow globally in the near future.”
LG Chem, which is making a big push in energy storage, has secured orders worth more than 100 megawatt hours this year in Korea alone. The company is also expanding its presence in overseas markets such as the U.S. and Europe.
The company plans to become a major force in the domestic ESS market, which is estimated to more than double from the current 400 billion won ($347 million) in sales to 820 billion won by 2020.
By Lee Ji-yoon (email@example.com)