Battery giant LG Corp has commissioned South Korea's largest lithium-ion energy storage system (ESS) through its subsidiary LG Electronics.
LG Electronics built the 92MW/340MWh storage system on Anjwa Island, South Jeolla Province, using batteries manufactured by its spin off firm LG Energy Solution, which was formed in December last year.
The project was developed in cooperation with renewables firm KCH Group, power utility Korea Western Power and Top Solar Group.
A 24-hour monitoring and remote control system is applied to the ESS, as well as LG Energy Solution's battery fire detection and suppression solutions.
LG Electronics has participated in various ESS projects in South Korea, including the ESS at a wind farm in North Gyeongsang Province.
In January, LG Energy Solution entered into a long-term agreement to source a supply of lithium products from SQM (Sociedad Química and Minera de Chile) to LG Energy Solution, the recently independent battery division of LG Chem.
The contract is expected to run through 2029.
Under the agreement, SQM will supply lithium hydroxide and lithium carbonate to the Korean company. The order volume is reported to be approximately 55,000 metric tons of lithium carbonate equivalent (LCE), a substantial percentage of SQM’s 70,000 tons per year production capacity.
SQM is among Chile’s largest lithium producers; Chinese group Tianqi has had a stake in SQM since 2018.