Energy Vault Acquires Stoney Creek Battery Storage System

Expansion of Energy Vault’s Global Portfolio

Energy Vault Holdings, Inc. has made a significant move in the renewable energy sector by completing the acquisition of the Stoney Creek Battery Energy Storage System (BESS) project located in Northern New South Wales, Australia. This development marks an important milestone for the company as it continues to expand its international presence and strengthen its position in the global energy market.

The acquisition was first announced in March 2025, and following the necessary regulatory approvals, the deal has now been finalized. The project, previously owned by Enervest Group, is now part of Energy Vault's growing "Own & Operate" portfolio. This strategic move underscores the company's commitment to investing in long-term, sustainable energy solutions that support the transition to a cleaner and more reliable power grid.

A key factor in the success of this acquisition is the approval received from the Foreign Investment Review Board (FIRB). This regulatory clearance ensures that the project aligns with national interests and meets all necessary requirements for foreign investment in critical infrastructure. With this approval, Energy Vault has solidified its investment in the Stoney Creek BESS, positioning itself as a key player in the Australian energy landscape.

Strategic Importance of the Project

The Stoney Creek BESS is a 125 megawatt/1,000 megawatt-hour project designed to provide eight hours of dispatchable energy. Once operational, it will play a vital role in supporting grid reliability and flexibility in New South Wales. As the region transitions toward a more renewable-based energy system, such storage solutions are essential for balancing supply and demand, especially during peak periods or when renewable sources like wind and solar are not generating at full capacity.

The project has also secured a 14-year Long-Term Energy Service Agreement (LTESA) under Roadmap Tender Round 5 for Long Duration Storage. This agreement provides a stable revenue stream over the project’s operational life, reducing financial risk and encouraging further investment in critical energy infrastructure. The LTESA is a strong indicator of the project's value and its potential to deliver long-term benefits to the local energy market.

Technological Integration and Future Growth

Energy Vault is responsible for developing and integrating the Stoney Creek BESS, leveraging its advanced technologies to ensure optimal performance. The company utilizes its proprietary VaultOS energy management platform, which enables efficient monitoring and control of energy storage systems. In addition, the B-VAULT system, a key component of Energy Vault’s technology, is designed to provide scalable and cost-effective energy storage solutions.

By combining these innovative technologies, Energy Vault aims to enhance the efficiency and reliability of the Stoney Creek BESS, ensuring it meets the evolving needs of the energy market. The integration of these systems also aligns with the company’s broader strategy to develop and operate clean energy projects around the world.

Conclusion

With the completion of the Stoney Creek BESS acquisition, Energy Vault has taken another step forward in its mission to drive the global transition to sustainable energy. The project not only strengthens the company’s portfolio but also contributes to the stability and resilience of the Australian energy grid. As the demand for clean energy continues to grow, initiatives like the Stoney Creek BESS will play a crucial role in shaping a more sustainable future.