LS Electric wins order $94 mn for energy storage system in UK

LS Electric Co. announced on Tuesday that it has secured a contract for a £73.6 million ($93.5 million) energy storage system (ESS) project in the UK.

The project, which will build a 50 MW power conversion system and 114 MWh battery ESS system in Botley, England, is the largest ESS project in the company's overseas portfolio.

The ESS project aims to steadily supply electricity produced in the Botley area to the transmission network of the UK's National Grid. The power solutions unit of South Korea;'s LS Group, which has a wealth of experience in smart energy projects both domestically and abroad, will be responsible for the design, procurement, construction, and integrated operation and maintenance of the project.

LS Electric's entry into the rapidly growing European renewable energy market marks the beginning of its strategy to achieve visible results in the overseas market and establish smart energy as a future growth engine. It has developed next-generation ESS technology, including the modular scalable string platform, to target the global industrial ESS market.

"The importance of ESS is growing globally, and soon there is a high possibility of securing additional contracts in Europe, centered on the UK," said an official of LS Electric, adding "We will strive to create visible results in the overseas market and establish smart energy business as a definite future growth engine."

Write to Ik-Hwan Kim at lovepen@hankyung.com