Energy Vault has signed a binding agreement to acquire a 850MW portfolio of battery energy storage system (BESS) projects from a domestic energy storage developer in Japan.
The portfolio comprises 350MW of BESS projects in advanced development stages. Construction is scheduled to begin in the second half of 2027 (H2 2027), with operations expected to commence in H2 2028.
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It also encompasses 500MW of early stage projects.
The acquisition gives Energy Vault an immediate foothold in Japan, leveraging a market characterised by growing grid constraints and significant renewable energy uptake.
Integrating a local development team will provide expertise in land rights, permitting and utility interconnections.
By leveraging its global capabilities, Energy Vault aims to contribute to Japan’s 2050 carbon-neutral objectives while engaging in the wholesale, capacity and balancing markets.
Energy Vault plans to employ a technology-agnostic strategy, utilising its B-VAULT AC Technology Platform and incorporating alternative chemistries.
A partnership with Peak Energy supports this approach to advance sodium-ion battery technology.
Energy Vault chairman and CEO Robert Piconi said: “Entering the Japanese market is a key component of our high-growth markets expansion strategy and represents one of the most compelling energy storage growth opportunities globally.
“This acquisition provides us with a foundational leadership position in Japan with advanced-stage, attractive storage IPP [independent power producer] projects coupled with critical local execution capabilities necessary to deliver at the highest performance levels within the Japanese BESS market.
“By combining our proprietary VaultOS energy management software and global supply chain with a proven local team, we are uniquely positioned to accelerate the deployment of the flexible capacity that the Japanese grid urgently requires.”
Energy Vault’s platform spans the full value chain, from development to long-term operations, enabling stable, recurring cash flows from owned assets.
By handling key functions such as engineering, procurement, construction and service agreements in-house, the company aims to generate diversified revenue streams and retain flexibility to deploy capital efficiently.
Its global portfolio currently features more than 1GW of energy and AI infrastructure, including new projects for US modular data centres.
These assets are projected to generate more than $180m in annual earnings before interest, taxes, depreciation and amortisation within the next 12–36 months.
In January this year, Energy Vault began construction on the SOSA Energy Centre, a 150MW/300MW-hour BESS project in Madison County, Texas, US.
