Samsung C&T, LS Electric to establish US solar JV

South Korea's Samsung C&T Corp. and LS Electric Co. signed a memorandum of understanding (MOU) on Monday to expand solar power projects in the US.

Under the agreement, the two firms plan to establish a joint venture (JV) in the US.

Samsung C&T will oversee permitting and renewable energy development through the JV, while LS Electric will provide power solutions and related technologies.

The partnership will launch with a 500-megawatt energy storage project in Texas, capable of supplying power to roughly 100,000 households annually.

Samsung C&T will manage the permitting and development process, while LS Electric will focus on delivering transmission and power systems.

Active in the US solar market since 2018, Samsung C&T has developed 17.4 gigawatts of solar and energy storage capacity by acquiring permits for unused land and selling project rights.

By integrating LS Electric’s power grid expertise, Samsung C&T aims to enhance the value of its renewable energy projects.

The two companies are also exploring plans to jointly develop solar power facilities and enter the EPC market to oversee engineering, procurement, and construction.

Write to Hyeon-woo Oh at ohw@hankyung.com