Energy Vault and EU Green Energy Sign 1.8 GWh BESS Deal for Balkans

Energy Vault Holdings, a global grid-scale energy storage solutions provider, announced the signing of a Framework Supply Agreement (FSA) with EU Green Energy LLC, a renewable energy developer in the Balkan region. The agreement covers the deployment of up to 1.8 GWh of Battery Energy Storage Systems (BESS) over the next four years, paving the way for broader support of EU Green Energy's renewable energy assets portfolio development in the Balkans region.

Chief Revenue Officer of Energy Vault, Marco Terruzzin, said, “We are proud to partner with EU Green Energy, a well-established renewable energy player in the Balkan region with a deep understanding of local energy policies and execution. 

“Our B-VAULT and VaultOS platforms will enable EU Green Energy to rapidly deploy assets efficiently, and achieve superior project returns in one of Europe's most dynamic and rapidly developing energy markets,” he added.

Strategic Partnership

This strategic partnership is aimed at enhancing grid flexibility across the Balkans, supporting EU Green Energy's strategy to expand its renewable portfolio in Albania, Kosovo, North Macedonia, and Montenegro.

The first project to be advanced under the framework agreement, a 100 MW / 400 MWh BESS installation in Albania, has commenced development with the signing of an Energy Equipment and Services (EEQ) Agreement. 

Phase 1 of this project, representing 50 MW / 200 MWh, will leverage Energy Vault's proprietary B-VAULT energy storage system and VaultOS energy management system.

The system will be installed in Kulluricë, southern Albania, with Phase 1 (50 MW / 200 MWh) scheduled to reach commercial operation in Q3 2026, followed by Phase 2 (50 MW / 200 MWh) expected to come online in Q1 2027. The agreement is conditioned upon final Albanian legislative approval.

Energy Vault’s Expanding Global Footprint

The announcement marks an advancement of Energy Vault's growing footprint in the global battery energy storage market, with the Company's B-VAULT portfolio now exceeding 2 GWh of deployed or contracted systems globally.

The Company's offerings include proprietary battery, gravity and green hydrogen energy storage technologies. Energy Vault recently closed a USD 300 Million equity investment with Orion Infrastructure Capital, and launched 'Asset Vault', the Company's fully consolidated subsidiary dedicated to developing, building, owning and operating energy storage assets globally.