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Energy Vault Closes Acquisition of 850 MW Energy Storage Portfolio from BayWa r.e. AG, Establishing Immediate Operational Platform to Capture Growth in Japan
Energy Vault Closes Acquisition of 850 MW Energy Storage Portfolio from BayWa r.e. AG, Establishing Immediate Operational Platform to Capture Growth in
About this update from Energy Vault Holdings, Inc.
[{"type":"text","content":"\nEnergy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault” or the “Company”), a global leader in sustainable grid-scale energy storage and AI compute infrastructure solutions, today announced the successful completion of its previously announced acquisition of an 850 MW Battery Energy Storage System (“BESS”) development portfolio in Japan from BayWa r.e. AG, a leading global renewable energy developer and independent power producer.\n\n\nThe closing of the transaction officially establishes Energy Vault’s operational presence in Japan, one of the most attractive and structurally advantaged energy storage markets among developed economies. The acquisition provides Energy Vault with an immediate in-country platform, a premium project pipeline, and a highly experienced local development team with deep expertise in land rights, regulatory permitting, and utility interconnections — capabilities that are essential to scaling successfully in Japan’s complex and rapidly growing energy storage market.\n\n\nThe team and portfolio were carefully selected and originate from BayWa r.e., one of the world’s most sophisticated renewable energy platforms. For Energy Vault, the strategic value of the acquisition extends beyond megawatts alone: it adds proven local execution capability, accelerates market entry, and positions the Company to build a long-term owned-asset platform in a market with strong demand for flexible, reliable, and dispatchable energy storage.\n\n\nThe acquired portfolio includes approximately 350 MW of advanced-stage BESS projects expected to reach Notice to Proceed (“NTP”) in the second half of 2027, with Commercial Operation Dates (“COD”) expected to begin in mid-2028. An additional 500 MW of early-stage projects provides a multi-year development runway and meaningful expansion potential as Energy Vault scales its Japanese platform. Importantly, the advanced-stage projects are expected to be configured with three hours of storage duration. This provides greater energy capacity per MW than shorter-duration BESS projects more commonly seen in other markets, including the United States, and is expected to enhance the long-term revenue potential and asset value of the portfolio. In addition, Japan’s relatively low cost of financing further strengthens project-level economics, making the market particularly attractive for Energ...