Energy Vault to Acquire 850MW BESS Portfolio in Japan

Energy Vault Holdings has entered Japan through a binding agreement to acquire an 850 MW battery energy storage system (BESS) development portfolio from a domestic energy storage developer. The portfolio includes 350 MW of advanced-stage projects targeted to reach notice to proceed in H2 2027, with commercial operation dates expected in mid-2028.

The deal also includes 500 MW of early-stage BESS projects, creating a multi-year pipeline for Energy Vault’s Japan expansion. The transaction is designed to onboard a local Japanese development team to support land rights, permitting, and utility interconnections. Energy Vault says the acquisition will bring its owned, under-construction, and operating MWs to over 1 GW across asset classes and geographies.