SK Group is pushing forward with its North American energy storage ambitions, announcing plans to break ground on a second 100 MW energy storage system in southern Texas this year, with operations set to begin in 2026.
The expansion follows the company’s first 100 MW facility in the region, which came online last month. SK aims to reach 900 MW of US storage capacity by 2029, extending beyond Texas.
The initiative is led by SK Gas and SK EterNix through their US subsidiary GridFlex, established in December with an 87.1 billion won ($63.8 million) investment. SK Gas holds an 80% stake in the venture, which has partnered with US renewable energy company Apex Clean Energy.
Industry forecasts show the US energy storage market growing from $106.7 billion in 2024 to $263.5 billion by 2032, driven by renewable energy integration. Texas and California markets are particularly lucrative, as operators can store electricity when prices are low and sell when they rise.
Other Korean firms are also targeting the sector. Samsung SDI recently secured a 437.4 billion won ($320.6 million) contract with NextEra Energy, while Samsung C&T and LS Electric are pursuing a 500 MW project. LG Energy Solution plans to produce cost-effective lithium iron phosphate batteries for energy storage at its Michigan plant later this year.
