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 Construction Workers Mutual Aid Association (CWMAA) will acquire a language center building of the University of New South Wales (UNSW) in Sydney for A$71 million ($56 million), jointly with a South Korean insurance company. CWMAA, with $2.8 billion in&hellip
South Korean banks and institutional investors will provide $140 million in syndicated loans to a US gas-fired plant project in Pennsylvania, part of $460 million loans originated by BNP Paribas to build the power plant. Of the $140 million loans,&hellip
A consortium led by US investment firm Angelo, Gordon & Co. has been selected as a preferred buyer of a local bank’s building in Seoul, for which the New York-based company placed the highest bid among four bidding groups to&hellip