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Energy Vault Buys 2.3 GW US Battery Storage Portfolio from Goshe

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Energy Vault said on Wednesday it had acquired a portfolio of US battery energy storage projects from Goshe Energy Storage, adding over 2.3 gigawatts of development capacity as it expands its owned energy infrastructure business.

The portfolio comprises 15 projects and includes two ready-to-build facilities with a combined capacity of 350 megawatts. The projects, sized at 150 MW and 200 MW, are expected to begin commercial operations in Q1 2028 and generate about $30 million in combined annual run-rate EBITDA once operational.

Energy Vault said the deal would accelerate its recurring EBITDA generation, with Asset Vault now expected to reach over $200 million in exit run-rate EBITDA in 2028. The company did not disclose the acquisition's financial terms.

Energy Vault also secured a commitment for up to $40 million in credit facilities from S2G Investments to support development, construction and operations across the acquired portfolio.

The deal comes as developers and utilities accelerate investment in battery storage to support power grids facing rising electricity demand and increased renewable generation. Energy Vault's global owned-asset portfolio now exceeds 1.75 GW of energy and AI digital infrastructure that is either operating or under construction.

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Commodities

SEBI Settles With Five Adani Group Firms Over Disclosure Violations

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BOM:512599BOM:539254BOM:541450BOM:542066BOM:543458NSE:ADANIENSOLNSE:ADANIENTNSE:ADANIGREENNSE:ATGLNSE:AWL
Commodities

US Power Update: Prices Swing as PJM Hits $85.08/MWh Intraday High

US electricity markets saw significant price swings, with locational marginal prices varying widely across regions as power demand shifted.ISO New England led the markets at 5 p.m. ET with a locational marginal price of $34.71 per megawatt-hour, compared with $22.39/MWh for Midcontinent Independent System Operator, which posted the lowest price at that hour.For intraday peaks, PJM Interconnection reached $85.08/MWh at 8:15 a.m. ET, while ISONE recorded the lowest LMP in the negative territory at -$0.45/MWh at 11 a.m. ET.The National Weather Service's Climate Prediction Center forecasts above-normal temperatures across most of the US from Sept. 30-Oct. 6, with near-normal readings in parts of the West.

Commodities

US Crude Oil Inventories Rise, API Says

Data from the American Petroleum Institute revealed Tuesday that US crude oil inventories increased by1.79 million barrels in the week ended Sept. 23, following a 7.14-mmbbl build the previous week, and compared with analysts' estimate of a 500,000-bbl decline, according to a Bloomberg-compiled survey.The oil market now awaits the US Energy Information Administration's petroleum inventory report, scheduled for release on Wednesday.