Switzerland-based Energy Vault has acquired a portfolio of more than 2.3GW of US battery energy storage system (BESS) development projects from Colorado’s Goshe Energy Storage.
The transaction covers 15 projects and expands the company’s Asset Vault platform, which centres on energy storage and AI infrastructure assets.
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As part of the acquisition, Energy Vault will add two ready-to-build projects with capacities of 150MW and 200MW.
Both are projected to become operational in the first quarter of 2028 and together are expected to generate around $30m in annual run-rate earnings before interest, taxes, depreciation and amortisation (EBITDA) once operational.
The company said the acquisition brings forward Asset Vault-specific annual recurring EBITDA timelines and it now expects to reach more than $200m (SFr164.51m) in exit run-rate EBITDA by 2028 under its long-term infrastructure ownership strategy.
Asset Vault president Cory Magnuson said: “This portfolio fits squarely within Energy Vault’s strategy of acquiring late-stage, de-risked development projects that can be moved efficiently toward construction and operation.
“The team has a track record of originating and advancing high-quality BESS projects, and we are glad to have them join us as we continue to scale our owned-asset portfolio across US markets.”
To support the development, construction and operation of its newly acquired portfolio, Energy Vault has secured a credit facility commitment of up to $40m from S2G Investments.
This commitment continues a strategic partnership between S2G and Goshe and will fund various stages of project progress.
The Goshe team, including development professionals with more than 75 years of combined experience in renewable energy, BESS project management and financial services, will join Energy Vault.
Goshe CEO Bailey McCallum said: “Joining Energy Vault allows our team to continue the work we started – developing and delivering the storage projects the grid needs – with the backing of a large, vertically integrated and global platform.
“We are pleased that S2G will continue as a financing partner through this transition, and we look forward to seeing this portfolio through to construction and operation as part of Energy Vault’s platform.”
Energy Vault’s global portfolio currently includes more than 1.75GW of owned energy and AI compute infrastructure assets that are either operating or under construction.
The company’s business model spans the full infrastructure life cycle, from development and construction to ongoing service agreements, aiming to generate stable, recurring revenue.
In April 2026, Energy Vault signed a binding agreement to acquire an 850MW portfolio of BESS projects from a domestic energy storage developer in Japan.
