LG Technology Powers Utility-Scale Solar+Storage Projects In North Carolina

LG Electronics Solar Panels at Heart of 8.5-Megawatt Portfolio Developed with Cypress Creek Renewables

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Mar 29, 2018, 11:00 ET

WILMINGTON, N.C., March 29, 2018 /PRNewswire/ -- Solar technology leader LG Electronics joined Cypress Creek Renewables, the nation's fastest-growing solar farm developer, to celebrate the official opening of one of largest solar-plus-storage installations in the continental United States – an 8.5 megawatt portfolio of utility-scale solar projects, with storage capacity of 12 megawatt hours, in North Carolina.

One of the 12 new utility-scale LG solar farms in North Carolina, developed by LG Electronics with Cypress Creek Renewables.

All told, 21,900 high-performance LG solar panels (395-watt LG NeON® 2 72-cell modules) have been installed across a dozen separate solar farms in Columbus and Brunswick counties. LG Electronics provided tax equity financing to the projects in partnership with Cypress Creek.

"Creating a clean, sustainable future that's accessible and affordable is central to LG's goal of providing solutions that match changing needs in our communities, workplaces and homes – including innovative, intelligent solutions for energy conservation, solar energy and energy storage. LG's involvement in these projects underscores the company's commitment to providing innovative, market-leading solutions to its partners and customers," said Tim Distler, head of solar business development, LG Electronics USA.

Cypress Creek acquired the projects from United Renewable Energy, the initial developer of the projects. The power developed on these sites will give the local homes and businesses in the area access to clean and affordable energy. The LG solar panels will charge batteries during off-peak periods. Once the batteries are charged each day, the solar portion of the projects will continue to deliver energy to the grid. During peak load times in the summer and winter, the projects will provide reliable renewable energy using the batteries, and LG solar panels will reduce the utility's peak power requirements.

Backed by best-in-class 15-year product and 25-year performance warranties, LG NeON 2 72-cell solar panels are designed to deliver higher efficiency. LG’s flagship panels feature innovative LG Cello technology, which utilizes circular-shaped wires to scatter light for better absorption while reducing the electrical loss and increasing power output and reliability.

About the LG Business-to-Business Company
The LG Electronics Business-to-Business company is a trusted business partner offering innovative products and solutions for international customers worldwide. With heavy investments in future growth engines such as high efficiency solar solutions, energy storage systems and energy management solutions, LG is committed to returning strong value to its customers. Through unique offerings such as industry-leading LG OLED signage displays and video walls with nearly invisible bezels, LG has made itself a formidable name in the commercial sector. For more information on LG's business-to-business offerings, visit www.LG.com/business.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $55 billion global force and technology leader in home appliances, consumer electronics and mobile communications. LG Electronics sells a range of stylish and innovative home appliances, home entertainment products, mobile phones, commercial displays, air conditioning systems and solar energy solutions in the United States, all under LG's "Life's Good" marketing theme. For more news and information about LG Electronics, visit www.LG.com and www.LG.com/solar.

About Cypress Creek Renewables
Cypress Creek Renewables LLC believes solar energy makes the world safer, cleaner and better. Our team solves problems to successfully develop, build and operate solar facilitates across the United States. With 2.2 gigawatts of solar energy deployed in more than a dozen states, Cypress Creek Renewables is one of the country's leading solar companies. For more information, visit www.ccrenew.com.

SOURCE LG Electronics USA