SAMSUNG SDI and Korea East-West Power have entered into a memorandum of understanding (MoU) to collaborate on global energy storage system (ESS) and renewable energy projects.

The MoU was signed at StarPlus Energy, SAMSUNG SDI–Stellantis joint venture facility in Indiana, US.

Under the agreement, the companies plan to develop and invest in domestic as well as international energy initiatives.

This includes ventures in ESS and the creation of new business models such as renewable energy-linked initiatives and grid stabilisation projects.

Additionally, the companies intend to enhance their collaboration across the energy sector, including the implementation of a Management Service Provider project at the Ulsan facility of Samsung SDI.

SAMSUNG SDI Americas executive vice-president and head Heon Joon Kim said: “Through our collaboration with Korea East-West Power, a leading public power generation company, we expect to strengthen our global competitiveness in the energy storage system and renewable energy sectors. We will further solidify our position as a leading energy solutions provider.” 

Both companies aim to expand joint business opportunities within the global energy market and adapt to changes in the supply chain.

The collaboration is seen as significant given the increasing global demand for ESS and renewable energy.

Korea East-West Power president and CEO Myung Ho Kwon said: “By combining the infrastructure of a public power generation company with the advanced technologies of a private-sector partner, we can enhance competitiveness in the global market. Building on this agreement, we aim to deliver concrete business results.”

Samsung SDI provides solutions ranging from battery cells and modules for backup applications to grid-scale ESS solutions.

Korea East-West Power has operations across several international markets, including the US, Australia, Saudi Arabia, and Indonesia.