SK Group grabs US storage space attire

• Key Capture Energy has 254MW of projects in construction and also procedure and also a 3GW growth pipe

South Korean empire SK Group is to get Key Capture Energy (KCE), an US programmer, proprietor and also operator of energy storage space projects.

SK E&S, an affiliate of SK, has actually gotten to an agreement to purchase KCE and the purchase will "substantially increase" KCE's development strategies.

It will certainly also enable SK E&S to build a "market leading energy storage as well as tidy energy system" in the United States.

Established in 2016 with offices in Albany, Houston, and Salt Lake City, KCE has 254MW of standalone energy storage space projects in building and construction as well as procedure and also an advancement pipe of 3000MW of storage projects across the United States.

Jeff Bishop, founder and CEO of Key Capture Energy, said: "We are very delighted to invite SK E&S as our new proprietor.

" SK E&S's financial investment marks their self-confidence in our group, our strategy, and in the incredible possibility of the United States energy storage space market, which is approximated to be a $8.5 bn annual market in 2026."

SK E&S has made investments in the US across the energy remedy value chain in recent years which include the purchase of California's largest behind-the-meter energy storage portfolio in 2019, an investment in Sunrun and the development of a joint endeavor in 2020 to increase the fostering of renewables, the electrification of residences, as well as the change to a linked and also dispersed energy system.

KCE recently purchased hydrogen technology firm Plug Power.