SEOUL, May 27 (UPI) -- Texas-based CPS Energy plans to team up with two South Korean companies to collaborate on a large-sized energy storage system project.
OCI Holdings announced Tuesday that its U.S. subsidiary, OCI Energy, signed a three-party memorandum of understanding with CPS Energy and LG Energy Solution.
Under the agreement, OCI Energy is set to secure ESS batteries from LG Energy Solution. With them, it will store solar energy generated during the day and sell the electricity to CPS Energy.
As one of the largest municipally owned electric and natural gas utilities in the United States, CPS Energy serves around 1.28 million customers in Texas. LG Energy Solution is a global battery maker.
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