LG Energy Solution Secures 2GWh ESS Deal
LG Energy Solution said it signed a strategic memorandum of understanding for cooperation on ESS projects with Israel-based global renewable energy company EnergiX at its headquarters in Parc.1 in Yeouido, Seoul, on Oct. 27. The agreement aims to supply a total of 2GWh of ESS products within the nex
On October 27, LG Energy Solution inked a strategic memorandum of understanding with Israel-based renewable energy firm EnergiX in Seoul. The deal focuses on supplying 2GWh of energy storage solutions in the next 24 months, with 1.5GWh allocated for Europe and 0.5GWh for North America. Both companies intend to explore expanding the total supply volume to up to 4.5GWh, contingent upon market conditions.
EnergiX is an independent power producer engaged in the entire renewable energy spectrum, from development to operations. They aim to construct a global portfolio exceeding 8GW, having already forged a cooperative relationship with LG Energy Solution post the Nové Czarnowo project in Poland in 2024. The partnership will intensify with the Jonava project in Lithuania, a hybrid renewable energy venture to construct a 320MWh ESS, currently under development with a 2027 commercial launch target.
This agreement is crucial as it secures a significant business opportunity in the European market, following the North American focus. As artificial intelligence data centers and power grids drive demand for ESS, LG Energy Solution's approach is to bolster its global customer base through its local production strengths and technological edge.
EnergiX CEO Asa Levinger emphasized the potential for a stronger long-term partnership, vowing to expedite renewable energy expansion in key markets. LG Energy Solution's ESS Battery Division head Kang Chang-beom highlighted the company's commitment to accelerating growth in its global ESS business, leveraging its unique technological advantages.
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