From: Mercom India
Energy Vault, a utility-scale energy storage project developer, has acquired more than 2.3 GW of U.S. battery energy storage development projects from Colorado-based developer and operator of utility-scale battery storage projects, Goshe Energy Storage.
The transaction spans 15 projects that will be added to the company’s build, own, and operate platform. A development and project management team from Goshe will also join Energy Vault.
The portfolio includes two ready-to-build battery storage projects with capacities of 150 MW and 200 MW. Energy Vault expects both projects to begin commercial operations in the first quarter of 2028.
According to Energy Vault, the two projects are expected to generate approximately $30 million in combined annual run-rate earnings before interest, taxes, depreciation, and amortization once operational. The acquired projects will become part of Asset Vault, Energy Vault’s platform for financing, developing, owning, and operating energy storage and artificial intelligence infrastructure assets.
The development professionals joining Energy Vault have more than 75 years of combined experience in renewable energy development, battery storage project management, and financial services. They will continue working on the development, construction, and operation of the acquired portfolio.
Energy Vault has also secured a credit facility commitment of up to $40 million from S2G Investments to support the development, construction, and operation of the acquired projects. S2G previously had a strategic partnership with Goshe related to project development and financing.
Following the acquisition, Energy Vault said its active global portfolio of owned assets includes more than 1.75 GW of energy and artificial intelligence digital compute infrastructure that is operational or under construction. The portfolio also includes recently announced U.S. expansions involving powered land and powered shell modular data centers.
In 2026, the company announced its formal entry into the Japanese market through a binding agreement to acquire a pipeline of battery storage projects from a leading domestic energy storage developer, and the acquisition of the 350 MWh McMurtre battery storage project from Belltown Power.
In March 2026, Energy Vault closed an upsized $150 million financing in convertible senior notes, up from the initially announced $125 million offering.
According to Mercom’s recently released 1H 2026 Funding and M&A for Energy Storage report, project acquisition activity accelerated sharply during the first half of 2026, with approximately 14 GW of battery storage capacity changing hands in 63 transactions, compared with 6.1 GW in 31 transactions during the same period in 2025.
