Recently, Sanlux and LG Energy Solution each won large energy storage contracts. Specifically, Sanlux secured an energy storage equipment procurement order worth over RMB 45 million in the European market, while LG Energy Solution locked in a 5GWh energy storage battery deal in the U.S. market.
Sanlux Signs Over RMB 45 Million Energy Storage Equipment Procurement Contract
On January 24, Sanlux issued an announcement stating that its holding grandchild company, MSR, has signed an Energy Storage System Equipment Procurement Contract with China Energy Engineering Storage Technology (Wuhan) Co., Ltd., with a total contract value of EUR 5.5165 million (approximately RMB 45.26 million).
According to the announcement, Sanlux plans to provide a joint and several liability guarantee for MSR for 35% of the total contract value in respect of its payment obligations. The minority shareholders of Yinjie Power (a holding subsidiary of Sanlux) will provide counter-guarantees in proportion to their shareholdings. This guarantee matter has been reviewed and approved by the company’s board of directors and does not require submission to the general meeting of shareholders for approval.
LG Energy Solution Wins 5GWh U.S. Energy Storage Order
On February 4, LG Energy Solution officially announced that it has signed an energy storage battery supply contract with Hanwha Q CELLS USA. Under the contract, LG Energy Solution will supply 5GWh of energy storage system batteries from 2028 to 2030, which will be used for the latter’s utility-scale energy storage projects in the United States.
It is reported that the batteries to be supplied this time adopt Lithium Iron Phosphate (LFP) technology and will be produced locally at LG Energy Solution’s factory in Holland, Michigan, U.S., which has already achieved mass production of LFP energy storage batteries. Hanwha Q CELLS will produce solar modules in Georgia. Both parties will simultaneously realize localized production to circumvent tariff risks, aligning with the subsidy requirements of the U.S. Inflation Reduction Act (IRA).
Previously, the two parties reached a 4.8GWh battery procurement cooperation in 2024, and the relevant products have been applied to energy storage projects in various parts of the United States.
Source：EnergyTrend
