South Korea’s battery maker LG Chem is to provide lithium-ion batteries to German-based renewables company Energiequelle (EQ).
The batteries will be integrated in energy storage systems (ESS) for EQ’s 10MW battery storage project in Feldheim, Germany.
According to LG Chem, the Asian company will supply 10.8MWh and install the batteries by the first quarter of next year. The main application of LG Chem’s batteries is to stabilise and regulate power frequency to store energy in the ESS and deliver it to the electric microgrid when it is needed.
The terms of the deal were not disclosed.
EQ’s ESS are designed to distribute electricity generated by clean energy sources from wind, solar and biomass power plants. The battery storage park is aimed to have a storage capacity of 5MWh. The plan is to feed the system with the energy surplus of the local 72MW wind farm and participate more efficiently in the weekly tendering for primary control reserve.
The storage park, located 30 miles south of Berlin, is currently under construction.
According to U.S.-based market researcher Navigant Research, the global ESS market is expected to grow to $55 billion by 2020, expanding an average of 53% per year.
