LG Chem has announced a multi-year supply agreement for a minimum one gigawatt-hour of lithium-ion battery capacity for use in AES Advancion grid-scale energy storage units.
LG Chem says 1 GWh of batteries is capable of powering 250 – 1,000 MW of energy storage installations, depending on configuration. The supply agreement covers battery modules with configurations ranging from 30 minutes to 4 hours of discharge duration and AES will be able to purchase extra battery capacity from LG Chem if required.
AES was one of the first independent power producers (IPP) in the United States and now has energy storage solutions installed in 18 countries around the world.
AES says Advancion is a “complete alternative to peaking power plants” and its scalable design enables standard configurations from sub-100 kW to over 1,000 MW.
The company currently has a total of 384 MW of interconnected energy storage in operation, under construction or in late stage development.
Grid scale energy storage has grown at a rapid clip across the world; jumping from just 60MW installed capacity six years ago, to 1,400 MW of projects announced or in operation today.
LG Chem says Navigant Research forecasts more than 11 GW of energy storage capacity will be installed annually by 2020 across 22 countries.
While home battery solutions such as the Tesla Powerwall and Enphase Energy’s AC Battery have tended to steal the media’s attention in recent months with regard to energy storage, LG Chem has been quietly gaining strength in the sector.
LG Chem started lithium ion battery research in 1995, commenced mass production in 1991 and developed automotive lithium ion batteries in 2000. The company has been one of the world’s largest lithium-ion battery manufacturers for some time and has also branched out into residential storage solutions.
Two of the three assembly lines at LG Chem’s Holland, Michigan plant are now operating 24 hours a day; producing 650 megawatt-hours worth of battery cells annually. According to a report on Automotive News, the facility could account for as much as one quarter of North America’s total EV battery capacity by 2017.
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