Energy Vault Holdings, Inc. has signed a Framework Supply Agreement with EU Green Energy LLC to deploy up to 1.8 GWh of Battery Energy Storage Systems over the next 4 years. The agreement, valued at up to USD 250 million, will support EU Green Energy's portfolio of renewable energy assets in the Balkans.

The strategic partnership aims to accelerate the integration of renewable energy and enhance grid flexibility across the Balkans, supporting EU Green Energy's strategy to expand its renewable portfolio in Albania, Kosovo, North Macedonia, and Montenegro.

First Project Development

The first project under the framework agreement is a 100 MW/400 MWh BESS installation in Albania, which has commenced development following the signing of an Energy Equipment and Services Agreement. Phase 1 of this project represents 50 MW / 200 MWh and 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. Phase 1 (50 MW / 200 MWh) is 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.

Technology and Platform Details

Energy Vault's B-VAULT and VaultOS platforms will enable EU Green Energy to rapidly deploy assets efficiently and achieve superior project returns. The B-VAULT energy storage system and VaultOS energy management system are designed to deliver advanced performance, reliability, and grid flexibility.

Today's announcement marks an advancement of Energy Vault's growing commercial 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.

Executive Statements

Marco Terruzzin, Chief Revenue Officer of Energy Vault, stated: “We are proud to partner with EU Green Energy, a well-established renewable energy player in the Balkan region with 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.”

Alfons Uka, President of EU Green Energy, commented: “We have spent a great deal of time identifying the right partner who understands our needs and is willing to collaborate with us as we expand in our markets. Energy Vault has demonstrated strong customer focus and technical expertise, providing a unique hardware and software platform that perfectly aligns with our growth strategy. We look forward to deploying it at scale across multiple projects in Albania, Kosovo, Montenegro, and North Macedonia.”

Company Background

Energy Vault develops, deploys, and operates utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary battery, gravity, and green hydrogen energy storage technologies that support a variety of customer use cases and deliver safe, reliable energy system dispatching and optimization.

Each storage solution is supported by the Company's technology-agnostic energy management system software and integration platform. Energy Vault's innovative technology portfolio delivers customized short-, long-, and multi-day/ultra-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability.

Since 2024, Energy Vault has executed an “Own & Operate” asset management strategy developed to generate predictable, recurring, and high-margin tolling revenue streams, positioning the Company for continued growth in the rapidly evolving energy storage asset infrastructure market.

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