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Excelsior Energy Capital, a top investor in renewable energy infrastructure, has entered into a multiyear agreement with LG Energy Solution Vertech, a global expert in energy storage systems. The deal secures a 7.5 GWh reservation of high-quality, U.S.-made battery energy storage systems (BESS) from LG Energy Solution Vertech. These systems will support Excelsior’s expanding portfolio of standalone and hybrid energy storage projects across the United States, ensuring a dependable supply for its growing renewable energy initiatives. Starting in 2026, the battery systems will be produced at LG Energy Solution’s state-of-the-art facilities in the U.S., ensuring a reliable and secure supply chain for Excelsior’s energy projects. LG Energy Solution Vertech will also provide integration and lifecycle services to complement these products. This collaboration helps Excelsior mitigate trade-related and supply chain risks, guarantees stable pricing and availability, and strengthens its dedication to promoting American clean energy jobs and manufacturing. Anne Marie Denman, Co-Founder and Partner of Excelsior, said in a statement, “Excelsior and LG Energy Solution Vertech share a common vision to build battery energy storage systems and projects that stand the test of time – both in the quality of manufacturing and operations of the systems and through our ongoing work in providing reliable and safe sources of on-demand power to the U.S. grid. As one of LG Energy Solution Vertech’s customers for its domestic supply of BESS, we have secured access to a reliable and diversified supply chain, steady pricing, and leading-edge technology. This allows us to continue to serve as a reliable partner to our project stakeholders, delivering project execution certainty by nearshoring the largest portion of the capital expenditure for our battery projects.” The batteries from this agreement will power Excelsior’s clean energy projects across the U.S., focusing on areas with growing energy demand and the need for reliable clean power. As utilities, businesses, and energy providers adopt storage solutions to improve grid stability and support the shift to sustainable energy, Excelsior is partnering with leading providers of advanced, scalable technologies to keep pace with the rapidly changing market. Chris Frantz, Partner at Excelsior Energy Capital, also mentioned, “We are selective in choosing suppliers who meet our high standards for quality and reliability. Our partnerships with leading manufacturers and service providers help us not just build, but fully optimize projects throughout their lifecycle to meet rising clean energy demands, such as those being fueled by AI innovations and corporate zero-emission goals. With LG Energy Solution Vertech, we’ve secured a partner that shares our commitment to delivering clean energy innovation to align with growing needs.” Hyung Kim, Head of ESS Battery Division at LG Energy Solution, commented, “Excelsior is thoughtfully establishing projects in the U.S. We place great value in being a long-term partner to our customers, supporting projects throughout their life cycles with services and software that enable success well beyond project commissioning. We look forward to seeing the projects under this agreement make meaningful, lasting impacts on the energy grid.” This agreement caps off a milestone year for Excelsior. In July, the company partnered with Fluence Energy Inc. to build 2.2 GWh of battery energy storage infrastructure in key U.S. markets. In March, it sold a portfolio of 38 solar and solar-plus-storage projects from its Fund I portfolio to BlackRock’s Evergreen Infrastructure Partners Fund. In April, Excelsior launched Lydian Energy, a portfolio company focused on developing solar and battery storage projects across North America. That same month, the firm signed a 2 GW agreement with Heliene Inc. to source U.S.-made photovoltaic modules for its solar projects, reinforcing its commitment to American clean energy technology. |
