LGCNS, a specialist in IT services, signed a deal to export energy storage systemsto Guam, a U.S. territory. The deal is valued at US$43 million, the largestever among those made by Korean firms.
LGCNS announced on May 16 that it inked a contract to set up 40-megawatt ESS withthe Guam Power Authority.
Underthe terms of the deal, the LG Group company will complete the establishment byMay 2018 and will be responsible for operation, maintenance, and repair overthe next 25 years. ESS is a system that enables users to save electricityproduced by power plants and use it when needed, thereby contributing toimproving the efficiency in power usage.
LGCNS will set up two different systems including a 24-megawatt frequencyadjustment ESS for Guam Agana substation and a 16-megawatt renewable energyoutput stabilization ESS for Talofofo substation. LG CNS plans to use LG Chem'slithium polymer ESS batteries.
The Public Officials Benefit Association (POBA) will select two global private credit managers to invest around $200 million in mezzanine debt via separately managed accounts (SMAs). POBA will allocate $100 million to each of two SMAs through two domestic investment&hellip
The Government Employees Pension Service (GEPS) will allocate $20 million to US dollar-denominated structured notes based on South Korean credit default swaps (CDS) and three-month US dollar LIBOR. It received proposals for the investment mandate by the afternoon of June 26.&hellip
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip