Energy Vault Holdings, Inc. (“Energy Vault” or the “Company”), a global leader in grid-scale energy storage solutions, has announced the signing of a Framework Supply Agreement (FSA) with EU Green Energy LLC (“EU Green Energy”), a leading 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.
This strategic partnership reinforces the shared commitment of both Energy Vault and EU Green Energy to accelerating renewable energy integration and enhancing grid flexibility across the Balkans, supporting EU Green Energy’s strategy to expand its renewable portfolio in Albania, Kosovo, North Macedonia, and Montenegro.
“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,” said Marco Terruzzin, Chief Revenue Officer of Energy Vault. “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.”
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 to deliver advanced performance, reliability, and grid flexibility.
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.
“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 proven customer focus and technical expertise, providing a unique hardware and software platform that perfectly fits our growth strategy,” said Alfons Uka, President of EU Green Energy. “We look forward to deploying it at scale across multiple projects in Albania, Kosovo, Montenegro, and North Macedonia.”
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.
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