Energy Vault has acquired a portfolio of 15 US utility-scale battery energy storage projects totalling more than 2.3GW from developer Goshe Energy Storage.
The purchase includes two ready-to-build projects rated at 150MW and 200MW. The company expects both to enter commercial operation during the first quarter of 2028 and generate combined annual run-rate earnings before interest, tax, depreciation and amortisation of approximately $30 million.
The company did not disclose the purchase price, project locations, storage duration, energy capacity in MWh or intended battery chemistry. It said the portfolio includes projects in the Electric Reliability Council of Texas (ERCOT) market.
Goshe’s development and project-management team will join Energy Vault. The company said the employees bring more than 75 years of combined experience in renewable-energy development, battery project management and financial services.
Energy Vault also secured a credit facility commitment of up to $40 million from investment firm S2G Investments. The funding will support the development, construction and operation of projects in the acquired portfolio, continuing S2G’s financing relationship with Goshe.
The projects will become part of Energy Vault’s Asset Vault platform, through which the company finances, develops, owns and operates energy-storage and artificial-intelligence infrastructure.
Energy Vault said the acquisition had brought forward the platform’s earnings timetable. It is now targeting more than $200 million of annualised run-rate EBITDA by the end of 2028, although this remains dependent on projects completing development, financing and construction.
The company said its global portfolio of owned energy and digital infrastructure in operation or under construction exceeds 1.75GW.
Photo: Energy Vault’s Cross Trails battery energy storage system near Snyder, Texas (not part of the portfolio acquired from Goshe)
Credit: Energy Vault
