LG Energy Solution, Hanwha Q CELLS Sign Large-Scale ESS Supply Contract

MT Newswires Live

02/04

LG Energy Solution (KRX:373220) secured a contract to supply a total of 5GWh energy storage system (ESS) project from Hanwha Solutions (KRX:009830) US subsidiary Hanwha Solutions Q CELLS, according to a Wednesday release.

The contract covers lithium iron phosphate (LFP) batteries for energy storage systems made at the Holland, Michigan plant, with deliveries planned from 2028 to 2030 for Hanwha Q CELLS' US grid-scale ESS projects, the release said.

The financial aspects of the deal were undisclosed.

Shares of LG Energy Solution rose nearly 3% at market close while those of Hanwha Solutions jumped 30%.

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