Hyundai Heavy Industries' 50-megawatt ESSEnlarge Photo
As Elon Musk basks in the glow of meeting his 100-day challenge to install the world's largest utility battery in South Australia, another company is looking to take his crown.
Hyundai Electric & Energy Systems Co. announced on November 23 it took an order for an industrial energy-storage system to be installed by February.
The 150-megawatt system, expected to be the world's largest on delivery, was purchased by Korea Zinc at a cost of 50 billion won ($45 million) for use at its Ulsan refinery.
Hyundai Electric is one of three companies created in May of this year in a spin-off move by the world's largest shipbuilder, Hyundai Heavy Industries.
Since the spin-off, Hyundai Electric has expanding into the energy-storage market, which is expected to grow tenfold by 2025 to $29.2 billion, reports Pulse.
The latest order comes as Korea looks to reduce its reliance on nuclear power and move to renewables.
Tesla South Australia lithium-ion battery storageEnlarge Photo
The current world-record holder is Tesla's 129-megawatt-hour battery that stores enough energy for 30,000 homes in South Australia.
The battery gained notoriety when Elon Musk guaranteed the installation of 100 megawatt-hour of capacity in 100 days—or he'd foot the bill.
"Tesla will get the system installed and working 100 days from contract signature or it is free," Musk tweeted back to the challenge.
"That serious enough for you?" he added.
According to Bloomberg New Energy Finance, battery prices have dropped by almost half since 2014, driving industrial consumers to line up 1,650 megawatt-hours in lithium-ion battery projects in 2017.
As more locales look to leverage renewable energy for power grids, batteries will be the cornerstone of new systems to smooth out electricity supply issues from sources such as wind and solar.