AES Power Storage and Samsung SDI (006400.KS), introduced a Joint Growth and Supply Agreement to develop and deploy multi-megawatt power storage programs to increase the capability, enhance responsiveness and enhance the efficiency of electric grids.
With this settlement, AES Vitality Storage expands its supplier and technology companion base, while Samsung SDI strengthens its place within the lithium-ion battery enterprise by bringing their capabilities to new platforms. AES Vitality Storage is a subsidiary of the AES Corporation (NYSE: AES) with sixteen megawatts (MW) of installed capacity and Samsung SDI is a developer and manufacturer of lithium-ion batteries.
Under the agreement, Samsung SDI plans to supply an preliminary 20MW of Battery Energy Storage Programs to AES Vitality Storage to be deployed to one of the websites in its 500 MW vitality storage improvement pipeline. The undertaking will ship commercial spinning reserve and frequency regulation, which are ancillary services that help grid system operators keep the stability between technology and load. Moreover, the agreement gives the choice for AES Vitality Storage to source additional merchandise from Samsung SDI.
Jin-Gun Lee, Sr. Govt Vice President of Samsung SDI, mentioned, “This agreement can be a great opportunity for Samsung SDI to expand its business portfolio from small-sized batteries for IT utility and EV batteries to Energy Storage Systems.”
Samsung SDI Co. which is headquartered in South Korea, is the global leading producer of Lithium Ion Battery for IT utility akin to Cell Phone, Word PC and Industrial Application. And to increase its enterprise scope of Battery, Samsung SDI set up the Joint Company of Battery for xEV with Bosch in 2008.