Energy Vault Holdings completed the land acquisition for its Stoney Creek Battery Energy Storage System (BESS) in New South Wales, Australia. The company transitioned from a lease to full ownership following approval from Australia’s Foreign Investment Review Board.
The facility will provide 125 MW of power capacity. Total storage capacity is rated at 1 GWh. The system is designed for eight hours of dispatchable energy.
Construction is scheduled to begin in the first quarter of 2027. Operations are expected to start in the first half of 2028. A 14-year Long-Term Energy Service Agreement supports the project. The asset is projected to generate $25 million to $30 million in annual revenue.