South Korean battery maker Samsung SDI and state-owned utility Korea East-West Power (EWP) have signed a memorandum of understanding (MOU) to jointly develop and invest in global energy storage systems (ESS) and renewable energy projects.
The signing ceremony took place at StarPlus Energy (SPE), a joint venture between Samsung SDI and Stellantis, located in Kokomo, Indiana.
Focus on Global Energy and Storage Projects
Under the agreement, Samsung SDI and EWP will collaborate on:
- Developing and investing in domestic and international energy projects
- Expanding energy storage system (ESS) deployments
- Creating new business models in renewable energy
- Supporting grid stabilisation initiatives
The companies also plan to introduce a management service provider (MSP) project at Samsung SDI’s lithium iron phosphate (LFP) battery plant in Ulsan, South Korea. Samsung SDI is currently building the Ulsan facility specifically to manufacture LFP batteries for ESS applications.
Highlighting the importance of the partnership, the companies said the agreement brings together a top Korean battery manufacturer and a public power generation company “to deliver tangible business results in the global market amid rapidly growing worldwide demand for ESS and renewable energy.”
US Battery Market Shifting Toward Domestic Supply
Industry experts have noted shifting trends in the US battery energy storage sector. A consultant previously told Energy-Storage news that the US BESS market could reduce its dependence on Chinese battery supplies in the near future.
This shift has been influenced by South Korean manufacturers, including Samsung SDI, increasing local production. The company is targeting 30GWh of annual production capacity in the US and plans to launch two BESS solutions aimed at the growing domestic content market.
Justin Johnson, COO of Arevon Energy, said: “The combination of the Inflation Reduction Act (IRA) and then all these tariffs and foreign entity of concern (FEOC) restrictions have just been another impetus to continue to bring more domestic supply online. The slower uptake of EVs is freeing up battery cell capacity for BESS to use. They’re now retooling those production lines and creating cells specifically for the energy storage space.”
LG Energy Solution Expands in North America
Meanwhile, LG Energy Solution (LG ES) has acquired Stellantis’s share in their joint battery plant in Ontario, Canada, gaining an additional 49% stake in NextStar Energy, which operates Canada’s first large-scale lithium-ion battery plant.
LG ES is ramping up 17GWh annual capacity at its Michigan plant and aims to secure 90GWh of US energy storage orders this year. The company also plans to raise ESS cell production to over 60GWh by the end of 2026, with a strong focus on the US market.
Upcoming Industry Event
The Energy Storage Summit USA will take place on 24–25 March 2026 in Dallas, Texas, covering topics such as FEOC challenges, power demand forecasting, and BESS supply chain management.
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