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[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Energy Solutions raises investment funds by building a factory with external funds and then paying rent and repaying the funds.
LG Energy Solutions announced on the 21st that it has decided to guarantee debt for the Arizona corporate lease contract. LG Energy Solutions Arizona, a North American subsidiary of LG Energy Solutions, guarantees debt guarantees for 20 years of lease fees arising from the long-term lease of new battery plants.
The debt amount is about 5.9978 trillion won, which is equivalent to 29.1% of the equity capital. This contract is a lease contract for the Arizona cylindrical factory building. It is to complete the factory building using external funds, and to repay the funds by paying the lease fee after completion.
LG Energy Solutions plans to operate a total of eight production plants in North America by 2026, including a joint venture with General Motors (GM). Large-scale investment funds are needed for this.
Earlier, LG Energy Solutions announced in March last year that it would invest a total of 7.2 trillion won in Queen Creek, Arizona, to build a new cylindrical and energy storage system (ESS) lithium phosphate iron (LFP) plant.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
