Energy Vault’s $100M Breakthrough: Game-Changing Battery Deal Transforms India’s Energy Future

Energy Vault has partnered with India’s SPML Infra in a $100 million deal to bring advanced battery energy storage technology to the Indian market. This 10-year agreement will see the deployment of the B-VAULT™ battery energy storage system (BESS), with an initial 500 MWh capacity to be delivered within 12 months. Over the next decade, local manufacturing will scale production to 30-40+ GWh, reducing costs and boosting India’s clean energy transition. The partnership will generate revenue for Energy Vault through licensing fees, equipment contracts, and long-term royalties.

India’s energy storage market is rapidly expanding, driven by government policies requiring 10% battery storage in new solar and wind projects. The country’s energy storage demand is projected to reach $57 billion by 2032 and $443 billion by 2047. B-VAULT™ is designed for flexibility, safety, and seamless integration, making it a key player in India’s renewable energy landscape. This collaboration aligns with India’s Make in India initiative, strengthening local manufacturing while securing a cleaner, more stable power grid.

Energy Vault’s $100M Breakthrough: Game-Changing Battery Deal Transforms India’s Energy Future

In a significant move to advance India’s renewable energy goals, Swiss-based Energy Vault, a pioneer in sustainable energy storage, has announced a strategic 10-year partnership with SPML Infra, a leading Indian infrastructure firm. The collaboration focuses on manufacturing and deploying Energy Vault’s innovative B-VAULT™ battery storage systems across India, aiming to accelerate the country’s transition to clean energy while addressing its growing energy storage needs.

Key Features of the Partnership

Under the agreement, SPML Infra will license Energy Vault’s cutting-edge technology to produce and install B-VAULT™ systems in India. The partnership will begin with an initial rollout of 500 megawatt-hours (MWh) of battery storage capacity, worth approximately $100 million, within the next year. Over the next decade, the companies plan to scale up manufacturing to 30–40 gigawatt-hours (GWh) of capacity, positioning India as a major hub for advanced energy storage solutions.

Energy Vault will generate revenue through upfront licensing fees, equipment sales, and long-term royalties tied to deployment volumes. Meanwhile, SPML Infra’s expertise in local manufacturing and infrastructure development is expected to reduce reliance on imports, lower costs, and make the technology more accessible for India’s energy sector.

Why This Collaboration Matters for India

India has set an ambitious target of achieving 500 gigawatts (GW) of non-fossil fuel-based power capacity by 2030. To meet this goal, the country must rapidly expand its energy storage capabilities to manage the intermittent nature of solar and wind power. Recent government mandates now require new renewable energy projects to include at least 10% battery storage capacity, creating a massive demand for reliable storage solutions.

Industry projections estimate that India’s energy storage market could grow to $57 billion by 2032 and surge to $443 billion by 2047. The B-VAULT™ technology, with its adaptability and advanced features, is poised to play a critical role in stabilizing the grid, reducing energy waste, and integrating renewables into the power supply.

What Makes B-VAULT™ Unique?

The B-VAULT™ system is designed for short- to medium-duration energy storage, making it ideal for balancing supply and demand in renewable-heavy grids. Key features include:

• Flexible Integration: Compatibility with various battery types, inverters, and power configurations (AC or DC-coupled systems).
• Enhanced Safety: Built-in safeguards against overheating, fires, and cybersecurity threats.
• Smart Management: Energy Vault’s proprietary software, VaultOS™, optimizes performance by predicting energy demand and automating storage operations.

This versatility allows the system to support diverse applications, from solar farms to industrial facilities, ensuring uninterrupted power even during peak demand or grid disruptions.

Leadership Insights

Robert Piconi, CEO of Energy Vault, emphasized India’s strategic importance: “India is emerging as a global leader in energy storage innovation. Partnering with SPML Infra allows us to deliver cost-effective, scalable solutions that align with the country’s renewable energy vision.”

Subhash Sethi, Chairman of SPML Infra, highlighted the alignment with national priorities: “This collaboration supports India’s ‘Make in India’ initiative by boosting local manufacturing and creating jobs. Energy Vault’s proven technology will strengthen grid resilience and accelerate our clean energy transition.”

Energy Vault’s Global Momentum

Beyond India, Energy Vault has been expanding its global footprint with large-scale projects, including:

• A 125 MW / 1,000 MWh battery storage facility in Australia.
• A 200 MW / 400 MWh system at ACEN Australia’s New England Solar Project.
• Plans for a 100 MW / 200 MWh storage project with Australia’s State Electricity Commission.

These projects underscore the company’s role as a key player in the global shift toward sustainable energy infrastructure.

About the Companies

Energy Vault specializes in utility-scale energy storage solutions, including battery systems, gravity-based storage, and green hydrogen technologies. Its mission is to help industries and power providers achieve affordable, low-carbon energy storage.

SPML Infra, with over four decades of experience, has executed more than 700 infrastructure projects across India, including power plants, water supply systems, and smart city initiatives. The company’s work provides clean drinking water to over 50 million people, showcasing its commitment to sustainable development.

A Step Toward a Greener Future

The Energy Vault-SPML Infra partnership marks a milestone in India’s renewable energy journey. By combining cutting-edge technology with local expertise, the collaboration addresses critical challenges in energy storage while fostering economic growth and reducing carbon emissions. As India races toward its 2030 targets, innovations like the B-VAULT™ system will be essential to building a resilient, green energy ecosystem for future generations.