Energy Storage News•about 12 hours ago
Canadian LG Energy Solution and Stellantis joint venture to produce LFP cells for BESS
Key Takeaway
The expansion of a major North American battery plant to produce LFP cells for BESS signals a growing supply of potentially more affordable and safer stationary storage solutions, benefiting developers and large power consumers.
AI Summary
- •NextStar Energy, a joint venture between LG Energy Solution and Stellantis, is expanding its Canadian facility to produce LFP cells specifically for Battery Energy Storage Systems (BESS).
- •This expansion signifies Canada's first large-scale Li-ion battery manufacturing plant diversifying into stationary energy storage, moving beyond its initial automotive focus.
- •The production of LFP (Lithium Iron Phosphate) cells for BESS indicates a strategic shift towards lower-cost, safer, and longer-lifecycle storage solutions, which could impact BESS market pricing and availability.
- •Increased North American (Canadian) manufacturing of BESS components offers potential benefits for developers and large power consumers through reduced supply chain risks and potentially qualifying for regional incentives.
Topics
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Article Content
LG Energy Solution and Stellantis' joint venture (JV), NextStar Energy, Canada’s first large-scale lithium-ion (Li-ion) battery manufacturing plant, is expanding to produce energy storage system (ESS) batteries.