South Korea’s LG Energy Solution is exploring a potential supply agreement to provide approximately 2 gigawatt-hours (GWh) of battery energy storage systems (BESS) for renewable energy projects developed by Israeli energy producer Energix Renewable Energies Ltd in Europe and the United States.
The two companies have signed a non-binding memorandum of understanding (MoU) covering 1.5 GWh of battery storage capacity in Europe and 0.5 GWh in the US. According to LG Energy Solution’s announcement on Tuesday, deliveries are expected to take place over the next 24 months.
Under the agreement, the companies will conduct regular evaluations to assess supply requirements and identify additional opportunities across Energix’s renewable energy project portfolio. They will also explore the possibility of expanding the total supply volume to approximately 4.5 GWh, comprising 3 GWh for Europe and 1.5 GWh for North America.
Energix develops and operates solar, wind and energy storage projects across Poland, the United States, Lithuania and Israel. The company currently has a renewable energy portfolio of approximately 1.7 gigawatts (GW) and battery storage capacity of 0.5 GWh. By 2027, it aims to increase these figures to 4.8 GW and 2 GWh, respectively.
In the longer term, Energix plans to build a global renewable energy portfolio exceeding 8 GW, reflecting its ambitions to expand its presence in international clean energy markets.
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The partnership builds on an existing relationship between the two companies. Energix has already deployed LG Energy Solution’s battery technology at its Nowe Czarnowo project in Poland.
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The companies are also discussing the potential use of LG Energy Solution’s battery systems in a hybrid renewable energy project in Lithuania that includes 320 megawatt-hours (MWh) of energy storage capacity.
The proposed collaboration highlights growing demand for large-scale battery storage as renewable energy developers seek to improve grid flexibility, manage intermittent power generation and support the integration of solar and wind energy.
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While the MoU does not constitute a binding supply contract, the potential expansion to 4.5 GWh could create additional business opportunities for both companies in Europe and North America.