United States-based Energy Vault Holdings Inc. said Tuesday it signed a framework agreement with EU Green Energy LLC to deploy up to $250 million worth of battery energy storage systems totaling 1.8 gigawatt-hours across the Balkans over the next four years.
The deal aims to accelerate renewable energy deployment and improve grid flexibility in Albania, Kosovo, North Macedonia, and Montenegro.
Partnership to Strengthen Balkan Renewable Push
The framework supply agreement marks a strategic step for both companies. Energy Vault, a provider of grid-scale battery energy storage, will deliver its B-VAULT battery systems and VaultOS energy management software under the deal.
“This partnership will accelerate renewable integration in one of Europe’s fastest-growing energy markets,” said Marco Terruzzin, chief revenue officer at Energy Vault. “Our platforms will help EU Green Energy deploy projects quickly and efficiently.”
EU Green Energy, a renewable developer based in the Balkans, said the partnership aligns with its plan to expand its clean energy portfolio in the region.
Albania Project to Lead Initial Rollout
The first project under the agreement, a 100 megawatt/400 megawatt-hour system in southern Albania, has entered development under an energy equipment and services agreement.
Phase 1 of the project, covering 50 MW / 200 MWh, will be located in Kulluricë. It is expected to reach commercial operation in the third quarter of 2026. Phase 2, with the same capacity, is due online in the first quarter of 2027.
The installation will use Energy Vault’s proprietary technology to enhance reliability and grid performance. However, the project still awaits final legislative approval in Albania.
Scaling Energy Storage Across the Balkans
EU Green Energy President Alfons Uka said Energy Vault’s hardware and software solutions “perfectly fit our growth strategy.”
“We have spent significant time selecting a partner who understands our needs,” Uka said. “Energy Vault brings proven technical expertise and customer focus, which will support our expansion in Albania, Kosovo, Montenegro, and North Macedonia.”
The companies plan to replicate the Albanian model across other Balkan markets, supporting regional energy transition goals.
Expanding Global Footprint
Energy Vault said the new deal expands its commercial footprint in the global battery energy storage sector. Its B-VAULT systems now account for more than 2 GWh of deployed or contracted projects worldwide.
The California-based company develops and operates grid-scale energy storage solutions using battery, gravity and hydrogen-based technologies. Its systems aim to help utilities and industrial users lower energy costs while maintaining a reliable power supply.
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