Energy Vault Acquires 850 MW BESS Development Portfolio in Japan from BayWa r.e., Entering Japanese Market
Energy Vault Holdings has closed the acquisition of an 850 MW battery energy storage development portfolio in Japan from BayWa r.e. AG, including an experienced local development team. The portfolio comprises 350 MW of advanced-stage projects (NTP expected H2 2027, COD from mid-2028) and 500 MW of early-stage projects. The deal brings Energy Vault's global owned asset base to over 1 GW.
Transaction date: · Source: businesswire.com
Key facts
- Transaction date
- Technology
- Battery Storage (BESS)
- Capacity
- 850 MW
- Transaction price
- Not disclosed
- Seller
- BayWa r.e. AG
- Country
- Japan
- Continent
- Asia
- Development status
- Under Development
- PPA
- n.a.
Technology details
850 MW BESS development portfolio comprising approximately 350 MW of advanced-stage projects expected to reach NTP in H2 2027 with COD beginning mid-2028, plus 500 MW of early-stage projects. Advanced-stage projects are configured with three-hour storage duration, providing greater energy capacity per MW than shorter-duration systems. Transaction also includes transfer of BayWa r.e.'s experienced local Japanese development team with expertise in land rights, regulatory permitting and utility interconnections.
Additional information
Acquisition establishes Energy Vault's operational presence in Japan. With this portfolio, Energy Vault's global owned asset base (acquired, under construction and operating) exceeds 1 GW. The full portfolio is expected to support more than $180 million in anticipated annual recurring EBITDA once fully operational. Japan's relatively low cost of financing further strengthens project-level economics. Acquisition brings Energy Vault's global near-term project pipeline to 1.1 GW.