DTE Energy Invests $1.6 Billion to Manufacture Battery Storage Systems in Michigan

MT Newswires Live05-28

DTE Energy (DTE) said Wednesday it will invest $1.6 billion to develop Michigan-made battery energy storage systems statewide in collaboration with LG Energy Solution Vertech.

The deal will support eight projects with battery systems delivered over a two-year period, expected to generate $2.3 billion in economic impact, enhance grid reliability, support new jobs, and advance the state's clean energy goals, the company said.

The projects will deliver 1.5 gigawatts or 6 gigawatt hours of battery storage, which will store electricity during excess energy generation and distribute the power as needed to meet peak customer demands and lower strain on the grid, according to a statement.

Price: 145.16, Change: +0.54, Percent Change: +0.37

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