LG Energy Solution signs deal to provide 2 GWh of storage to Israeli firm

LG Energy Solution Ltd. announced a memorandum of understanding with Israeli renewable-energy company Energix Renewable Energies Ltd. Under the pact, LGES will provide 2 GWh of energy-storage systems for Energix's projects in Europe and the United States within a 24-month period, and the partners may consider increasing the supply to 4.5 GWh. Energix chief executive Asa Levinger highlighted the plan as a way to accelerate renewable-energy expansion in its core markets.

The deal follows a series of recent ESS contracts LGES secured in North America, where demand is rising from AI data centers, grid operators and renewable developers. LGES operates seven battery plants in North America and is building an eighth in Arizona, while also running facilities in South Korea, Poland, China and Indonesia. The new agreement is expected to strengthen LGES's presence in the European ESS market amid a slowdown in EV-battery sales.