Samsung SDI is running a conference call to release the 3Q 2024 financial results.You can download Earnings Release and listen to the conference call with the link below.
Samsung C&T Trading & Investment Group''s renewable energy subsidiary in the United States has received a further boost in its efforts to expand its development of solar power, with the company recently signing a contract for 15 new projects in Texas.
Under its deal with local counterpart Sunraycer Renewables, Samsung C&T Renewables will develop six solar power plants with a capacity of around 1 gigawatt (GW) and nine Energy Storage Systems (ESS) capable of supplying approximately 2 GW of power. This combined capacity of 3 GW is enough to power 600,000 American households per year.
The process of developing the new Texas projects includes securing land use rights and carefully conducting various evaluations, including reviewing the situation concerning the local power system connection – especially as the total business area will cover approximately 6,100 acres. To put it another way, that is the size of 3,450 soccer fields!
With solar set to be the world''s biggest source of power by 2027, Samsung C&T has recognized the need to expand and diversify its portfolio in this key area of renewable energy.
The company has already secured a combined 14.9 GW of solar power and ESS pipeline projects in the United States. Last year, Samsung C&T also began solar power development operations in Australia, which have since reached a capacity of 1.3 GW. Globally, it aims to have reached a total solar power development capacity of 25 GW by 2025.
Long-term partnerships are particularly meaningful for stable business growth, as Samsung C&T aims to expand cooperation with Sunraycer Renewables in the U.S. market going forward.
Samsung Semiconductor has achieved a 100% transition to renewable energy at overseas business sites by 2020, completing such transition at overseas manufacturing sites in the U.S. and China in 2019 and at all of the DS Division''s overseas business sites in 2020.
Samsung Semiconductor USA Austin received the Excellence in Green Power Use from the Environmental Protection Agency (EPA) in September 2019, which recognized us for our outstanding achievements in expanding the use of renewable energy. We increased the use of renewable energy from 3% to 100% by supporting green pricing and purchasing Renewable Energy Certificates (REC).
AMSTERDAM - Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Samsung SDI today announced that their companies have entered into a memorandum of understanding to form a joint venture to produce battery cells and modules for North America. Targeted to start in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt hours, with the ability to increase up to 40 gigawatt hours in the future.
"With the forthcoming battery plants coming online, we will be well positioned to compete and ultimately win in the North American electric vehicle market," said Carlos Tavares, CEO of Stellantis. "Our strategy to work with highly recognized partners boosts the speed and agility needed to design and build safe, affordable and sustainable vehicles that match exactly what our customers demand. I am thankful to all the teams working on this critical investment in our collective future."
"It is an honor for us to build a battery joint venture with Stellantis who is accelerating its electrification strategy in this green energy era," said Young-hyun Jun, President and CEO of Samsung SDI. "With this battery joint venture, we will do our best to meet the high standards of our customers in the North American EV market leveraging Samsung SDI''s battery technology, high quality products and safety measures."
Stellantis is now well advanced in the process of securing annual production capacity for electric vehicle batteries, paving the way to achieving 40% of its sales in the U.S. comprised of electrified vehicles by 2030.
The battery plants will fulfill the needs of Stellantis assembly plants throughout the US, Canada, and Mexico for installation in next-generation electric vehicles ranging from plug-in hybrids to full battery electric vehicles that will be sold under the Stellantis family of brands.
About Samsung energy storage
As the photovoltaic (PV) industry continues to evolve, advancements in Samsung energy storage have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Samsung energy storage for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Samsung energy storage featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
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