LS Electric to supply $90 M equipment to US renewable energy site
LS Electric Co. will supply about 120 billion won ($90 million) worth of power equipment to a new renewable energy site in the United States.
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South Korea, Anyang-si: LS Electric Co. will supply about 120 billion won ($90 million) worth of power equipment to a new renewable energy site in the United States.
LS Electric should deliver transformers worth $86.8 million to a renewable energy site in the United States, following a contract disclosed on January 9 for a power supply system for the U.S. market. The transformers to be supplied by LS Electric will convert electricity generated at the renewable energy site into high voltage.
This is LS Electric’s first delivery of transformers worth tens of billions of won to the U.S. market. Over 75 percent of transformers in the U.S. are more than 25 years old and there is a significant demand for new equipment as the construction of renewable energy sites is expected to increase. LS Electric’s affiliate, LS Energy Solutions, will supply about 30 billion won worth of energy storage systems (ESS) and power equipment for the same project.
Source: Pulse News