Energy Vault Holdings Inc. (NYSE: NRGV) and Enervest Group announced today the signing of an agreement to deploy a 1,000 MWh Battery Energy Storage System (BESS) at the Stoney Creek site in New South Wales, Australia. This project represents a significant advancement in Enervest’s strategy to improve grid reliability and support the state’s growing renewable energy capacity.
The Stoney Creek BESS will provide grid-scale energy storage, optimizing the efficiency of renewable energy generation while enhancing stability and reducing the carbon intensity of the New South Wales power grid. This initiative aligns with Energy Vault’s global growth plans, presented at their Investor and Analyst Day meetings in May 2024.
Deployment and Advanced Technology
Energy Vault will serve as the key partner for engineering, procurement, construction, and commissioning of the project, while also providing long-term services, software, and maintenance throughout the project’s lifecycle. The BESS system will be built using Energy Vault’s proprietary X-Vault integration platform, certified under UL9540 and AS3000 standards, alongside the B-VAULT™ product, and Vault-OS Energy Management System to control, manage, and optimize BESS operations.
Energy Vault’s innovative system architecture offers optimal flexibility with AC-coupled and DC-coupled configurations, ensuring seamless integration with various battery and inverter suppliers. This modularity guarantees that the system adapts perfectly to the specific needs of each project, ensuring optimal performance and scalability.
Impact on the Australian Power Grid
The Stoney Creek BESS project is designed to meet New South Wales’ growing energy storage needs, supporting the transition to cleaner, renewable energy sources. By providing a flexible, large-scale energy storage solution, this project will help stabilize the grid, reducing outages and improving the overall quality of energy supply.
Additionally, this initiative facilitates better integration of intermittent renewable energies such as wind and solar by storing surplus energy generated during peak production periods and redistributing it when demand is higher. This not only optimizes the use of renewable resources but also reduces reliance on fossil fuel-based energy, thus lowering the overall carbon footprint of the grid.
Collaboration and Future Prospects
Ross Warby, CEO of Enervest, stated: “Energy Vault’s integrated hardware and software solution, combined with their system design expertise, makes Energy Vault the ideal partner for the Stoney Creek BESS project. We value strong partnerships like the one we have with Energy Vault, considering them essential for accelerating high-quality project development.”
Robert Piconi, Chairman and CEO of Energy Vault, added: “We continue to expand and deliver on our growing portfolio of multi-GWh energy storage projects in Australia. The Stoney Creek project exemplifies our commitment to the growth plans we have outlined for 2025 and beyond, focusing on large-scale, financially attractive projects to strengthen grid resiliency.”
This announcement highlights Energy Vault’s continued expansion in the Australian market, complementing previously announced projects already underway in New South Wales for 400 MWh, scheduled for delivery in 2025. Energy Vault’s B-VAULT portfolio includes over 2 GWh of projects either deployed or in development, demonstrating the company’s commitment to delivering sustainable and efficient energy storage solutions.
