Energy Vault buys 2.3 GW US battery storage portfolio
Energy Vault has acquired a portfolio of 15 battery energy storage projects totalling over 2.3 GW from Goshe Energy Storage in the US. The portfolio includes two ready-to-build projects of 150 MW and 200 MW, expected to start operations in the first quarter of 2028. The projects are projected to generate about $30 million in annual EBITDA and are backed by a $40 million credit facility from S2G Investments.
The deal adds 15 battery storage projects across the US, with two advanced-stage sites of 150 MW and 200 MW targeted for Q1 2028 operations. A $40 million credit facility from S2G Investments supports development and construction, while the portfolio is projected to deliver roughly $30 million in combined annual EBITDA.
This acquisition follows Energy Vault's April 2026 purchase of an 850 MW BESS portfolio in Japan, which included 350 MW of advanced-stage projects slated for construction in late 2027. Together, these moves expand the company's active global footprint to over 1.75 GW of operational and under-construction energy and AI compute infrastructure.
This acquisition could strengthen US grid resilience as renewable generation grows, since battery storage helps smooth intermittent supply. Utilities and ratepayers may benefit from more reliable power delivery, while investors could gain from the projected EBITDA stream. However, with operations not starting until 2028, benefits will arrive gradually, and shifting market conditions or regulatory changes could alter outcomes before those projects come online.