Energy Vault Holdings, Inc. (NYSE: NRGV) has secured a significant milestone for its Stoney Creek Battery Energy Storage System (BESS) project in New South Wales, Australia.
The company announced that the project has been awarded a 14-year Long-Term Energy Service Agreement (LTESA) by the Australian Energy Market Operator (AEMO) Services under the NSW Roadmap Tender Round 5 for Long Duration Storage.
The Stoney Creek BESS, developed in partnership with Australian project developer Enervest, is set to be one of the largest and first long-duration battery systems in NSW.
With a capacity of one gigawatt-hour and a 125MVA connection, the eight-hour duration system will play a crucial role in enhancing grid stability and supporting the state’s decarbonisation targets.
Robert Piconi, Chairman and Chief Executive Officer of Energy Vault, emphasised the project’s importance in executing the company’s development strategy.
He stated: “The Stoney Creek project serves as an important regional milestone at large scale that demonstrates [the] execution of our ‘Own & Operate’ growth strategy.”
Piconi also highlighted the Australian market as a significant growth driver for building, maintaining, and operating energy storage systems.
The project is expected to create 150 jobs during peak construction and four full-time operational roles post-completion.
Site mobilisation, pre-construction, and procurement activities are anticipated to begin in the second half of 2025, following final procedural and DA approvals.
Ross Warby, Chief Executive Officer of Enervest, expressed enthusiasm about the LTESA award, stating: “Stoney Creek BESS being awarded the LTESA is a pivotal step in delivering critical infrastructure that drives Australia’s energy transition, economic growth, and long-term system reliability.”
The Stoney Creek BESS project represents a cornerstone initiative within the NSW government’s Renewable Energy Roadmap, supporting the state’s decarbonisation goals.
It is designed to provide large-scale, dispatchable storage capacity to support grid reliability and renewable integration, contributing to wholesale price stability and reducing renewable curtailment.
Energy Vault and Enervest have committed to engaging with Traditional Owners, community groups, and local councils to ensure a collaborative and sustainable development approach that maximises local benefits.
This project marks a significant step towards expanding Australia’s energy storage capacity and reinforcing grid reliability and resilience.
