Energy Vault Acquires 1-GWh Battery Project in Australia

• Energy Vault expands in Australia with the 125 MW Stoney Creek BESS, boosting renewable integration and grid reliability.

Energy Vault Holdings Inc, a Swiss energy storage company, has agreed to purchase the Stoney Creek battery energy storage system (BESS) project in Australia from Enervest Group. The project has a capacity of 125 MW/1,000 MWh.

This acquisition marks a significant expansion for Energy Vault in the Australian market, enhancing its portfolio with a large-scale energy storage solution. The Stoney Creek project is expected to support the integration of renewable energy sources and improve grid reliability in the region.

How Will Energy Vault's Acquisition of Stoney Creek BESS Impact Australia's Renewable Energy Integration?

• Enhanced Grid Stability: The acquisition will provide a robust energy storage solution that can help stabilize the grid by balancing supply and demand, especially during peak usage times.
• Increased Renewable Integration: The Stoney Creek BESS will facilitate the integration of more renewable energy sources, such as solar and wind, by storing excess energy and releasing it when needed.
• Reduction in Fossil Fuel Dependence: By providing a reliable storage option, the project can reduce reliance on fossil fuel-based power plants, contributing to a decrease in carbon emissions.
• Economic Growth and Job Creation: The development and operation of the Stoney Creek project are likely to create jobs and stimulate economic growth in the region.
• Technological Advancement: Energy Vault's involvement may bring innovative energy storage technologies and solutions to the Australian market, potentially leading to further advancements in the sector.
• Support for National Energy Goals: The project aligns with Australia's national energy goals to increase the share of renewables in the energy mix and achieve net-zero emissions targets.
• Increased Energy Security: By enhancing energy storage capacity, the project can improve energy security and resilience against outages or disruptions.
• Potential for Future Projects: Successful integration and operation of the Stoney Creek BESS could pave the way for additional energy storage projects in Australia, further supporting the transition to renewable energy.