Energy Vault Expands U.S. Energy Storage Portfolio with Acquisition of 150 MW Battery Project in Texas
Energy Vault Holdings, Inc. (NYSE: NRGV), a global leader in grid-scale energy storage and renewable integration solutions, announced the acquisition and planned development of the SOSA Energy Center, a 150 MW/300 MWh battery energy storage system (BESS) in Madison County, Texas. Originally developed by Savion, a subsidiary of Shell plc, this project marks a significant step in Energy Vault’s continued expansion across the United States and is the first acquisition made through its new Asset Vault investment platform.
Positioned in the ERCOT North market—one of the most mature and competitive power markets in the country—the SOSA BESS project is designed to deliver advanced grid reliability and renewable energy support to Texas’s growing energy infrastructure. Energy Vault expects to receive a Notice to Proceed (NTP) in the fourth quarter of 2025, with commercial operations anticipated in early 2027. Construction activities will begin in late 2025, and the company plans to “safe harbor” the asset, securing eligibility for key U.S. federal incentives, including investment tax credits. Once operational, the system will play a critical role in stabilizing the Texas grid and facilitating higher levels of renewable generation integration.
The SOSA BESS project also represents the first transaction completed under Energy Vault’s Asset Vault platform, a strategic initiative aimed at developing, owning, and operating energy storage assets worldwide. This acquisition is backed by a $300 million preferred equity investment from Orion Infrastructure Capital (OIC) and the monetization of funds related to Federal Investment Tax Credits (ITC). Through Asset Vault, Energy Vault seeks to build a self-sustaining portfolio of revenue-generating projects while maintaining control of the full project lifecycle—from development and engineering to ownership and operations.
Energy Vault is also in advanced negotiations with an investment-grade counterparty for an eight-year offtake agreement, ensuring long-term revenue certainty and project bankability.
“The SOSA BESS is a strong addition to Energy Vault’s growing global portfolio of energy storage deployments, with top-quartile project performance attributes consistent with all project acquisitions and development under the Asset Vault platform,” said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. “This project acquisition demonstrates our commitment to one of the most important attributes of success in this dynamic market—speed of execution—rapidly deploying capital toward the development of high-return, bankable energy infrastructure at scale.”
Chris Leary, Head of Infra Equity at Orion Infrastructure Capital, emphasized that the project reflects the type of high-quality assets the Asset Vault platform was designed to target.
“SOSA represents the caliber of bankable, cash-flow generating assets that Asset Vault was designed to capture,” said Leary. “Energy Vault’s proven ability to execute on projects with strong fundamentals and long-term revenue visibility reinforces why we’re committed to supporting their growth as they build a portfolio of owned and operated energy storage assets that deliver predictable returns.”
The SOSA project benefits from robust development fundamentals, including fully secured site control, a clean title, and completed environmental assessments and interconnection studies. These milestones ensure that the project can move quickly from development into construction. Additionally, the offtake structure—expected to be backed by an investment-grade buyer—will deliver predictable, frontloaded cash flows, enhancing project returns and reducing financial risk.
The BESS will deploy Energy Vault’s third-generation B-VAULT™ AC system, an advanced battery storage platform engineered to optimize performance, cost, and reliability. The system offers higher availability rates and faster deployment timelines, both critical in competitive energy markets such as ERCOT. Energy Vault’s global B-VAULT™ portfolio now exceeds 2 GWh of deployed or contracted systems, spanning key regions including Europe, North America, and Asia. The company’s suite of technologies also includes proprietary gravity-based and hydrogen storage solutions for long-duration energy applications, reinforcing its position as a multi-technology energy storage innovator.
Beyond individual projects, Asset Vault represents a cornerstone of Energy Vault’s long-term strategy. The platform integrates every phase of the energy storage lifecycle—development, engineering, procurement, construction (EPC), and operations—into a single, vertically integrated ecosystem. This model allows Energy Vault to capture multiple revenue streams, maintain control of key project variables, and optimize returns across its portfolio. By self-performing EPC and long-term service agreements, the company reduces reliance on third parties, accelerates execution timelines, and ensures higher-quality project outcomes.
Under the Asset Vault umbrella, Energy Vault has already established a diverse and growing set of projects across the United States and internationally. In addition to the SOSA Energy Center, current U.S. projects include:
- Cross Trails BESS (57 MW/114 MWh), providing grid support and renewable integration.
- Calistoga Resiliency Center (8.5 MW/293 MWh), a hybrid energy storage facility combining clean hydrogen and battery technologies to enhance resiliency in California.
Internationally, Energy Vault recently acquired the Stoney Creek BESS, a 125 MW/1.0 GWh system located in New South Wales, Australia. Each of these projects underscores the company’s ability to deploy scalable storage infrastructure that supports energy transition goals while providing predictable financial performance.
Energy Vault’s entry into the Texas market further cements its presence in the fast-growing U.S. energy storage sector. ERCOT, which manages approximately 90% of Texas’s electric load, has emerged as a key region for renewable integration and flexible energy assets. As intermittent wind and solar capacity continue to expand, large-scale storage systems like SOSA are critical to maintaining grid stability and ensuring a reliable energy supply.
By combining its proprietary technology with a disciplined investment model, Energy Vault aims to establish Asset Vault as a leading platform for the ownership and operation of high-performing energy assets. The SOSA acquisition demonstrates how the company is leveraging partnerships, capital efficiency, and technical expertise to accelerate the energy transition while delivering strong financial returns to investors.
With construction set to begin in late 2025 and operations expected in early 2027, the SOSA Energy Center stands as a symbol of Energy Vault’s evolution—from an innovative technology provider to a vertically integrated energy infrastructure company positioned to lead the next phase of global energy storage deployment.
