Energy Vault buys Goshe's 15 US battery development projects, over 2.3 GW

Energy Vault Holdings said on September 22, 2026 that it has acquired a portfolio of US battery energy storage development projects from Goshe Energy Storage, LLC, a Boulder, Colorado developer, owner and operator of utility-scale batteries. The release puts the portfolio at "approximately 2.3+ GW" of development across 15 projects and gives no purchase price. Its highlights say Goshe's leadership team and experienced development professionals are joining Energy Vault, with more than 75 years of combined experience, which the highlights list as project development, BESS project management and financial services and the body paragraph as renewable energy development, BESS project management and financial services. The release does not say who is in that group; Goshe CEO Bailey McCallum, quoted in it, is not named as joining.

The release describes the two anchor projects, of 150 MW and 200 MW, as ready to build, and Energy Vault expects both to reach commercial operation in the first quarter of 2028 and to generate approximately $30 million of combined annual run-rate EBITDA once operational. It names no site or state for the acquired projects; the one market it names, ERCOT, appears in its description of Goshe's existing assets. It gives no megawatt-hour figure for either project, and so no discharge duration. The deal sits under Asset Vault, the platform Energy Vault describes as dedicated to financing, developing, owning and operating energy storage and AI infrastructure assets, which the company now expects to generate "$200M+ in 2028 exit run-rate EBITDA." Energy Vault says its active global portfolio of owned assets now encompasses over 1.75 GW of what it calls critical energy and AI digital compute infrastructure in operation or under construction.

The financing has two accounts in one document. The release says Energy Vault has secured a credit facility commitment of up to $40 million from S2G Investments to support the development, construction and operations of the acquired portfolio, and calls it "a continuation of S2G's strategic partnership with Goshe." Its forward-looking statements paragraph, listing what those statements cover, names "the transfer of the existing debt facility between Goshe and S2G Investments." S2G announced on May 28, 2026 a HoldCo debt facility of up to $40 million for Goshe to accelerate the acquisition and construction of late-stage utility-scale battery projects across the US. The release does not say whether Energy Vault's commitment of up to $40 million is new money or Goshe's May facility moving across to it; Goshe CEO Bailey McCallum is quoted saying only that S2G "will continue as a financing partner through this transition."