Energy Vault Holdings agreed to acquire an 850MW battery storage development pipeline in Japan from an undisclosed domestic developer, the company announced on April 9, 2026.
According to the statement, the portfolio includes 350MW of projects targeted for groundbreaking in the second half of 2027 and commissioning in the second half of 2028. The remaining 500MW are in early-stage development.
“A critical component of this entry strategy is the onboarding of the local development team into Energy Vault,” said the company, adding that doing so would secure “on-the-ground expertise in Japanese land rights, complex permitting, and utility interconnections.”
Energy Vault was founded in 2017 and focused on developing gravity energy storage products before diversifying into traditional energy storage. It began trading on the New York Stock Exchange in 2022, following a merger with the special purpose acquisition company (SPAC) Novus Capital Corporation II. Prior to that, it received investments from SoftBank Vision Fund, among others.
The company’s entry into Japan’s grid-scale battery market follows moves by other foreign developers and investors, including Intermediate Capital Group’s majority acquisition of Ray8 Energy and Neoen’s announcement of its first project in the country.
