LG Energy Solution (373220.KS) is moving to expand its overseas energy storage system (ESS) business through a tie-up with Enerjix, a global renewable energy company.
LG Energy Solution said on the 27th that it signed a strategic memorandum of understanding with Enerjix to cooperate on ESS projects in Europe and North America, at its headquarters in the Parc1 tower in Seoul's Yeouido district.
The two companies aim to supply a combined 2 GWh within the next two years, including about 1.5 gigawatt-hours in Europe and about 0.5 GWh in North America. They are also reviewing plans to expand the total supply volume to about 4.5 GWh through their European and U.S. units.
Enerjix is an independent power producer (IPP) specializing in renewable energy, headquartered in Israel. The company handles the full cycle of renewable projects, from development to operation, across solar, wind and energy storage, with a focus on Europe, North America and Israel. It is targeting a global portfolio of more than 8 gigawatts.
LG Energy Solution plans to begin the partnership in earnest with the Jonava project that Enerjix is developing in Lithuania. The combined renewable energy project involves building an ESS of about 320 megawatt-hours and is scheduled to start commercial operation in 2027.
The agreement is significant in that it secures large-scale ESS project opportunities for LG Energy Solution in Europe as well. The two companies previously built a working relationship in 2024, when LG Energy Solution supplied products for Enerjix's Nowe Czarnowo ESS project in Poland.
Enerjix Chief Executive Asa Levinger said the agreement would serve as an opportunity to solidify a long-term partnership with LG Energy Solution, adding that the company would look for opportunities to build high-quality energy storage solutions across its project pipeline and expand renewable energy in key markets.
Kang Chang-bum, executive vice president and head of LG Energy Solution's ESS Battery Division, said the cooperation with Enerjix allows the company to broaden ESS business opportunities in Europe and North America and further strengthen its global customer base. "Based on differentiated technology and local manufacturing capabilities, we will accelerate the growth of our global ESS business," he said.