US energy storage company Energy Vault has acquired a portfolio of U.S. battery energy storage systems (BESS) from Colorado-based developer Goshe Energy Storage, adding two ready-to-build projects totaling 350 MW.
Energy Vault announced that the transaction adds approximately 2.3 GW of BESS projects in development, spanning 15 projects, and includes Goshe’s “experienced team of development and BESS project management professionals.” A review of LinkedIn suggests seven people worked at Goshe, including Bailey McCallum, CEO, and Katherine Worden, General Counsel.
The acquired portfolio is anchored by two ready-to-build projects, a 150 MW and 200 MW BESS, with both expected to reach commercial operations in Q1 2028. Once operational, Energy Vault said it expects the two projects to generate around US$30 million a year in annual EBITDA.
Cory Magnuson, president of Energy Vault’s Asset Vault division, said the acquisition aligns with the company’s strategy of acquiring projects before ‘first shovel’.
“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’re glad to have them join us as we continue to scale our owned-asset portfolio across U.S. markets,” said Magnuson.
Energy Vault has also secured a credit facility commitment of up to $40 million from sustainability-focused investor S2G Investments to support the development, construction, and operation of the acquired portfolio.
“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,” said Goshe’s McCallum.
“We’re 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.”
In February 2026, Energy Vault partnered with Peak Energy to co-develop a full-stack storage platform of 1.5 GWh of sodium-ion batteries for AI data centers. Last month, the company signed a deal to supply 1.25 GW of off-grid BESS for an AI data center in Texas.
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