Energy Vault Enters Japan with 850 MW BESS Acquisition to Capture High-Growth Storage Market

Tokyo, Japan – April 2026 – U.S.-based energy storage company Energy Vault has announced its formal entry into the Japanese market through the acquisition of an 850 MW battery energy storage system (BESS) portfolio, marking a significant expansion into one of the world’s fastest-growing storage markets.

The transaction includes a pipeline of projects acquired from a domestic Japanese developer, alongside the integration of a local development team to support execution in the country’s complex regulatory and grid environment. 

Large-Scale Pipeline with Multi-Year Growth Potential

The acquired portfolio consists of:

• 350 MW of advanced-stage projects, expected to begin construction in H2 2027 and enter commercial operation in 2028

• 500 MW of early-stage projects, providing a long-term development pipeline 

This positions Energy Vault with a strong foothold in Japan’s grid-scale storage sector, enabling sustained expansion over the coming years.

Strategic Entry into a High-Growth Market

Japan is increasingly seen as one of the most attractive energy storage markets globally, driven by:

• Rising renewable energy penetration

• Growing grid constraints and congestion

• Increasing demand for flexibility and system stability 

Industry projections indicate that Japan’s BESS market could grow at a compound annual growth rate exceeding 50%, highlighting the scale of opportunity. 

Executive Perspective

Robert Piconi, Chairman and CEO of Energy Vault, emphasized the strategic importance of the move:

“Entering the Japanese market is a key component of our high-growth markets expansion strategy and represents one of the most compelling energy storage opportunities globally.” 

He added that the acquisition provides both advanced-stage projects and local execution capabilities, enabling faster deployment in a market requiring high-performance storage solutions.

From Technology Provider to Asset Owner

Following the deal, Energy Vault’s global portfolio now exceeds 1 GW of owned and operated energy and digital infrastructure assets, expected to generate over $180 million in annual recurring EBITDA once fully operational. 

The move reflects a broader strategic shift:

• From technology provider → infrastructure owner/operator

• Focus on long-term, stable revenue streams

• Leveraging full lifecycle capabilities (development → operation)

Storage Becomes Core to Energy Systems

Japan’s energy market is evolving toward a “revenue stacking” model, where storage assets generate income from:

• Wholesale electricity markets

• Capacity markets

• Grid balancing services 

As renewable energy continues to expand, battery storage is no longer optional—it is becoming critical infrastructure for grid reliability and decarbonization.