LG Energy Solution has signed a memorandum of understanding (MoU) with Israeli-headquartered renewable energy developer Energix-Renewable Energies Ltd to expand their collaboration on battery energy storage system (BESS) projects in Europe and North America.
Under the non-binding agreement, the companies will explore the supply of around 2 GWh of BESS solutions over the next 24 months. LG Energy Solution stated it would be approximately 1.5 GWh supplied to Europe, with another 0.5 GWh in North America.
The companies will also discuss increasing the overall deployment volume to around 4.5 GWh, with 3 GWh allocated to Europe and 1.5 GWh for North America, through LG Energy Solution’s operations in both regions.
According to Energix, the MoU was signed during a leadership summit in Seoul, South Korea. The company also said the partnership could include the deployment of U.S.-manufactured, FEOC-compliant battery systems for its U.S. projects.
This latest MoU builds on an existing relationship between the companies in Europe. LG Energy Solution previously supplied battery solutions for the 24 MW / 56 MWh Nowe Czarnowo BESS in Poland where Energix was the developer.
A potential collaboration between the companies is also being discussed for Energix’s Jonava project in Lithuania. It is a hybrid renewable energy project, combining 330 MWp of solar PV, 140 MW of onshore wind, and a 320 MWh BESS, with commercial operations targeted for 2027.
“Through our collaboration with Energix, we will expand ESS business opportunities in Europe and North America and further strengthen our global customer base,” said Changbeom Kang, ESS battery division leader of LG Energy Solution.
“Leveraging our differentiated technology and local manufacturing capabilities, we will accelerate the growth of our global ESS business.”
Energix is currently targeting a long-term global portfolio pipeline of more than 8 GW. Asa Levinger, CEO of Energix Group, said the MoU is an important step towards that goal.
“This agreement marks an important step in strengthening our long-term relationship with LG Energy Solution. We look forward to exploring opportunities to deploy high-quality energy storage solutions across our project pipeline and accelerate the expansion of renewable energy in our core markets,” said Levinger.
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