Incentives to encouraging solar power plant operators to use more battery energy storage systems (ESS) are being made available by South Korea’s government.
The government’s decision to provide incentives form part of its efforts to boost the country’s renewable energy market, according to Yonhap news agency.
Two firms are joining forces to build a lithium-ion cathode plant in South Korea to fuel the expected lithium battery demand for the electric vehicle market.
South Korean battery materials firm Ecopro has entered into a joint venture with the Chinese resources recycling company GEM to produce cathode materials in Pohang, South Korea.
South Korean firm Kokam’s lithium nickel manganese cobalt batteries were at the heart of record-breaking journey around the world.
Battery powered Solar Impulse 2 was the first plane to circumnavigate the globe using just solar power when it completed its journey last month.
Battery firm Kokam has secured a deal to supply a 13MW/h lithium-ion energy storage system (ESS) to aid frequency regulation to one of South Korea’s biggest utility companies.
The 36MW project will use the South Korean firm’s Ultra High Power nickel manganese cobalt (NMC) and NANO battery technology.
China battery maker BYD is in talks to sell a 3billion yuan (around $449million) share of the company to a South Korean electronics firm.
Samsung Electronics is set to confirm this week that it has successfully made play to enter the battery industry.
South Korean refiner SK Innovation Co has finalised a deal to supply its lithium-ion electric vehicle (EV) batteries for use in Mercedes Benz's EV cars.
Most of the details were kept secret, but what we do know is the deal is due to begin in 2017, according to reports by South Korean Yonhap English News.
A decision by South Korea to relax power distribution regulations in the country could open the gates for energy storage companies seeking new markets.
Local law insists the State-run Korea Electric Power Corporation (KEPCO) is the exclusive power distributor, but this will change in July when the government eases regulations to allow companies and individuals to buy and sell electricity.
One of Europe’s biggest utilities and a South Korean battery giant are set to join forces to take advantage of the growing lithium-ion energy storage system market.
Germany's top utility E.ON and battery firm Samsung SDI have signed a memorandum of understanding to pool together resources and knowledge to enter the market.
The ESS market is predicted to explode in 2016 as Tesla’s Powerwall and a number of rival residential and commercial systems come on stream.
E.ON said in a statement that both groups would develop "profitable energy storage solutions and... assess and develop a potential business model for targeting applications for lithium-ion batteries in selected regions and markets.”
As part of the agreement it is understood that E.ON and Samsung SDI will run battery projects in the United States, Germany, Britain and the Czech Republic, with the aim of expanding these to other countries.
No financial details were disclosed.
Just as Korean battery maker Samsung SDI claimed to be the first ‘top’ battery manufacturer to open an EV battery plant in China, competitor LG Chem says it has finished building a plant of its own.
Samsung says it has kicked off operations at its plant in Xi’an, central China, where it aims to produce 40,000 batteries a year. Further east, in Nanjing, LG Chem’s factory will churn out 50,000, the manufacturer claims.
Where LG Chem says it already has 16 local customers, including China’s top three automakers—Shanghai Automotive Group, Dongfeng Motor Group and the FAW Group—Samsung has only confirmed bus manufacturer Yutong and vehicle maker Foton.
In August, undisputed EV battery market leader Panasonic shut down a lithium-ion battery factory in Beijing, saying it wanted to concentrate on EV batteries—but the Japanese company has not reported any plans to do this in China.
The latest forecast by market research firm B3 showed that sales of electric vehicles in China grew more than five times to about 80,000 units in 2014, with the number projected to surge to 240,000 units next year.
The firm says the global market for EVs is forecast to reach 7.7 million vehicles by 2020, compared with 2.1 million in 2014.