CHUNGCHEONGBUK-DO < invest Korea

LS Industrial Systems Co. (LSIS), a South Korean manufacturer of electric power and automation equipment, struck a strategic alliance with Macquarie Capital Korea to scale up its solar power and energy storage system operation.

The Korean company said on Thursday it signed an agreement with Macquarie Capital Korea to build and operate solar power plants with financing from the investment bank. LSIS would be in charge of engineering, procurement and construction as well as operation and management while Macquarie Capital would provide the financing. Financial terms of the partnership have not been revealed.

Their first project would be to build a 7-megawatt energy storage system for Morning Solar Power, a newly acquired affiliate of Macquarie Capital, at its power plant in Goesan County, North Chungcheong Province.

LSIS said collaboration with a global investment firm like Macquarie would help boost its competitive edge in Korea and accelerate its overseas expansion.

As of 1:43 p.m., shares of LSIS were up 0.49 percent at 61,400 won ($56.40).


A two-megawatt solar power generation facility in Cheongju. [Photo by LS Industrial Systems Co.]

By Woo Je-yoon and Kim Hyo-jin

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Source: Pulse by Maeil Business News Korea (Nov. 23, 2017)