LG’s IT Company Takes Step into the American Energy Storage Market
By Business Wire News
By Business Wire News
SEOUL, South Korea
LG CNS, an affiliate of LG Corporation, plans to expand its business in America, demonstrating the strength to integrate energy storage system (ESS).
In May, Navigant Research, an American market research firm, released a Leaderboard Report1 for energy storage system integrators and LG CNS was positioned as the first in Asia and the fourth in the world. LG CNS’s competitive edge in the energy storage market is its experience as an IT service provider with a strong focus on IT System Integration (SI). This is the first report ever to rank the ESS system Integrators.
Until recently energy storage businesses were usually referred to ‘battery business.’ However, as the market has grown, the roles of system integrators that can manage projects and lead business endeavors have become ever more important in the energy storage industry. Now, the energy storage are designed, implemented, and ran to provide various custom services as well as traditional services while maintaining its core structure. Therefore, a strong IT background and technologies are required to satisfy these needs and industries begin to focus on IT service companies with energy business capabilities.
To keep up with these trends, LG CNS, a leader in the Korean IT service market, has emerged as a new force in energy storage system integration around the globe. LG CNS has leveraged its 28 years of SI experience in the energy industry to provide energy storage systems on a turn-key basis by performing all processes ranging from the planning, design, implementation, and management of energy projects.
In 2014, LG CNS built the world’s largest energy storage for peak management (23 MWh) for LG Chem plant in Iksan, South Korea. Also, LG CNS participated in a project that used energy storage for frequency regulation as one of ancillary services for the integrated GFC (Governor Free Control) and AGC (Automatic Generation Control) service model for Korea Electric Power Corporation (KEPCO), South Korea’s energy provider. Now, LG CNS is driving another ambitious project with KEPCO and other partners to transform Ulleung Island in Korea into the world biggest 100% self-contained green energy island by 2020. To achieve this challenging goal, LG CNS will utilize new and renewable energy systems to develop a converged stand-alone Smart Microgrid Solution including ESS and Energy Management System.
According to LG CNS official’s comment, “The global energy market is transitioning from a conventional supplier-driven system to a customized system that meets the conditions and needs of customers. LG CNS has a mid- and long-term vision centered on becoming one of the major energy service players in the American energy market. To realize the vision, we will integrate the world-class energy solutions held by LG Corporation’s affiliates and make a variety of partnerships with major solution providers in America to create a successful business model that serves the needs of our customers.”
Meanwhile, LG Corporation is fostering its energy business to be an engine of growth for the next generation. LG is building business capability in the energy value chain including production, storage, and efficient use of green energy, so it has spurred the growth of its energy solution businesses in Korea and around the world.
About LG CNS
LG CNS Co., Ltd., is a leading IT services and solutions provider, employing 10,000 people working worldwide with 2014 sales of USD 3.3 billion(USD1=KRW1,000). LG CNS’ business areas include consulting, system integration, system management, IT infrastructure (cloud computing, data center), IT convergence (Energy, Smart Green Solution, Smart Transportation Solution), and IT outsourcing. The company has been receiving favorable responses from clients in all sectors of the public and commercial markets in over 40 countries. For more information please visit: www.lgcnsblog.com, www.lgcns.com,
Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
1 Navigant Research Report: Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors.
Sophie Soyoung Choi, +82-2-2099-1109