Energy Vault and Enervest Announce Agreement for 1.0 GWh Energy Storage Project for the Stoney Creek Battery Energy Storage System in New South Wales, Australia
Energy Vault Holdings Inc. (NYSE: NRGV) has signed an agreement with Enervest Group for a 1,000 MWh battery energy storage system (BESS) at the Stoney Creek site in New South Wales, Australia. The project, valued at over $350 million, aims to enhance grid reliability and support renewable energy capacity. Energy Vault will serve as the turn-key partner, providing engineering, procurement, construction, and commissioning services, as well as long-term support.
The BESS will utilize Energy Vault's proprietary X-Vault integration platform, B-VAULT™ product, and Vault-OS Energy Management System. This agreement marks Energy Vault's continued expansion in the Australian market, following recently announced projects totaling 400MWh in New South Wales set for delivery in 2025. The company's B-VAULT portfolio now consists of more than 2GWh in total projects either deployed or in development.
Energy Vault Holdings Inc. (NYSE: NRGV) ha firmato un accordo con il Gruppo Enervest per un sistema di accumulo di energia da batteria da 1.000 MWh (BESS) presso il sito di Stoney Creek nel New South Wales, Australia. Il progetto, valutato oltre 350 milioni di dollari, mira a migliorare l'affidabilità della rete e sostenere la capacità di energia rinnovabile. Energy Vault sarà il partner chiavi in mano, fornendo servizi di ingegneria, approvvigionamento, costruzione e messa in servizio, nonché supporto a lungo termine.
Il BESS utilizzerà la piattaforma di integrazione proprietaria X-Vault di Energy Vault, il prodotto B-VAULT™ e il Sistema di Gestione Energetica Vault-OS. Questo accordo segna l'espansione continua di Energy Vault nel mercato australiano, dopo i progetti recentemente annunciati che ammontano a 400MWh nel New South Wales previsti per la consegna nel 2025. Il portafoglio B-VAULT dell'azienda ora consiste in oltre 2GWh in progetti totali già implementati o in fase di sviluppo.
Energy Vault Holdings Inc. (NYSE: NRGV) ha firmado un acuerdo con el Grupo Enervest para un sistema de almacenamiento de energía de batería de 1,000 MWh (BESS) en el sitio de Stoney Creek, Nueva Gales del Sur, Australia. El proyecto, valorado en más de 350 millones de dólares, tiene como objetivo mejorar la confiabilidad de la red y apoyar la capacidad de energía renovable. Energy Vault actuará como el socio llave en mano, proporcionando servicios de ingeniería, adquisiciones, construcción y puesta en marcha, así como soporte a largo plazo.
El BESS utilizará la plataforma de integración X-Vault de Energy Vault, el producto B-VAULT™ y el Sistema de Gestión de Energía Vault-OS. Este acuerdo marca la expansión continua de Energy Vault en el mercado australiano, después de proyectos recientemente anunciados que totalizan 400MWh en Nueva Gales del Sur, programados para entrega en 2025. El portafolio B-VAULT de la compañía ahora consta de más de 2GWh en proyectos totales ya implementados o en desarrollo.
Energy Vault Holdings Inc. (NYSE: NRGV)는 호주 뉴사우스웨일즈의 스토니 크릭 사이트에 1,000 MWh 배터리 에너지 저장 시스템 (BESS)를 위한 에너베스트 그룹과 계약을 체결했습니다. 이 프로젝트는 3억 5천만 달러 이상의 가치가 있으며, 전력망의 신뢰성을 강화하고 재생 가능 에너지 용량을 지원하는 것을 목표로 하고 있습니다. Energy Vault는 엔지니어링, 조달, 건설 및 시운전 서비스를 제공하며 장기적인 지원을 제공하는 턴키 파트너로 활동할 것입니다.
BESS는 Energy Vault의 독자적인 X-Vault 통합 플랫폼, B-VAULT™ 제품 및 Vault-OS 에너지 관리 시스템을 이용합니다. 이번 계약은 2025년 납품 예정인 뉴사우스웨일즈에서 총 400MWh에 달하는 프로젝트를 최근에 발표한 후 에너지 볼트의 호주 시장에서의 지속적인 확장을 나타냅니다. 회사의 B-VAULT 포트폴리오는 현재 총 프로젝트 2GWh 이상이 배치되거나 개발 중에 있습니다.
Energy Vault Holdings Inc. (NYSE: NRGV) a signé un accord avec le groupe Enervest pour un système de stockage d'énergie par batterie de 1 000 MWh (BESS) sur le site de Stoney Creek dans le New South Wales, Australie. Le projet, d'une valeur de plus de 350 millions de dollars, vise à améliorer la fiabilité du réseau et à soutenir la capacité d'énergie renouvelable. Energy Vault agira en tant que partenaire clé en main, fournissant des services d'ingénierie, d'approvisionnement, de construction et de mise en service, ainsi qu'un soutien à long terme.
Le BESS utilisera la plateforme d'intégration propriétaire X-Vault d'Energy Vault, le produit B-VAULT™ et le système de gestion de l'énergie Vault-OS. Cet accord marque l'expansion continue d'Energy Vault sur le marché australien, après l'annonce récente de projets totalisant 400MWh dans le New South Wales prévus pour livraison en 2025. Le portefeuille B-VAULT de l'entreprise compte désormais plus de 2GWh de projets totaux déjà déployés ou en développement.
Energy Vault Holdings Inc. (NYSE: NRGV) hat eine Vereinbarung mit der Enervest Group über ein 1.000 MWh Batterienenergiespeichersystem (BESS) am Standort Stoney Creek in New South Wales, Australien, unterzeichnet. Das Projekt hat einen Wert von über 350 Millionen Dollar und zielt darauf ab, die Zuverlässigkeit des Netzes zu verbessern und die Kapazität erneuerbarer Energien zu unterstützen. Energy Vault wird als schlüsselfertiger Partner fungieren und Ingenieur-, Beschaffungs-, Bau- und Inbetriebnahmedienstleistungen sowie langfristige Unterstützung anbieten.
Das BESS wird die proprietäre Integrationsplattform X-Vault von Energy Vault, das Produkt B-VAULT™ und das Energiemanagementsystem Vault-OS nutzen. Diese Vereinbarung markiert die kontinuierliche Expansion von Energy Vault auf dem australischen Markt, nach kürzlich angekündigten Projekten im Umfang von insgesamt 400MWh in New South Wales, die für die Lieferung im Jahr 2025 geplant sind. Das B-VAULT-Portfolio des Unternehmens umfasst jetzt mehr als 2GWh in Gesamtprojekten, die entweder implementiert oder in Entwicklung sind.
- Signed agreement for a large-scale 1,000 MWh BESS project in Australia
- Project valued at over $350 million
- Energy Vault to provide turn-key services and long-term support
- Expansion of Energy Vault's presence in the Australian market
- B-VAULT portfolio now exceeds 2GWh in total projects
- None.
Insights
The agreement between Energy Vault and Enervest for a 1.0 GWh energy storage project in Australia is a significant development for Energy Vault (NRGV). With an estimated value of
Key points to consider:
- The project's scale (1,000 MWh) demonstrates Energy Vault's capability to handle large-scale deployments, potentially opening doors to more substantial contracts.
- Energy Vault's role as the turn-key partner and system integrator, along with providing long-term services, suggests a comprehensive revenue stream beyond the initial installation.
- This agreement aligns with Energy Vault's global growth plans outlined in their May 2024 Investor Day, indicating successful execution of their strategy.
- The expansion in the Australian market, coupled with other recently announced projects totaling over 2GWh, shows growing market acceptance and potential for further business in the region.
While this news is positive for Energy Vault's growth prospects, investors should note that the project is still subject to final development and grid application approvals. The company's ability to successfully deliver on this and other projects will be important for long-term value creation.
Energy Vault's 1.0 GWh BESS project with Enervest is a noteworthy advancement in grid-scale energy storage. The significance lies not just in its size, but in its strategic importance for New South Wales' power infrastructure:
- The project will enhance grid reliability and support growing renewable energy capacity, addressing key challenges in the transition to cleaner energy sources.
- Energy Vault's proprietary X-Vault integration platform and B-VAULT™ product showcase the company's technological edge in the competitive energy storage market.
- The flexibility offered by AC-coupled and DC-coupled configurations provides adaptability for various project requirements, potentially giving Energy Vault an advantage in securing future contracts.
- The Vault-OS Energy Management System adds value by optimizing BESS operations, which is important for maximizing the economic benefits of energy storage.
This project positions Energy Vault as a key player in Australia's energy transition, with potential for replication in other markets facing similar grid stability and renewable integration challenges. The company's ability to deliver on this project could establish it as a go-to solution provider for large-scale energy storage globally.
BESS
Energy Vault continues its expansion in the Australian market and executing on its global growth plans as outlined in its May 2024 Investor and Analyst Day meetings
Energy Vault and Enervest Announce Agreement for 1.0 GWh Energy Storage Project for the Stoney Creek Battery Energy Storage System in
The Stoney Creek BESS marks a significant step forward in Enervest's strategy to enhance grid reliability and support the state’s growing renewable energy capacity. The Stoney Creek system will provide flexible, grid-scale energy storage, improving the efficiency of renewable energy generation while enhancing the stability and reducing the carbon intensity of the
Energy Vault will serve as the turn-key engineering, procurement, construction and commissioning partner and system integrator for the project, and will also provide long term services, software and maintenance support over the life of the project The BESS system will be built with Energy Vault’s proprietary X-Vault integration platform using Energy Vault’s proprietary UL9540 and AS3000 certified B-VAULT™ product, and Vault-OS Energy Management System to control, manage and optimize the BESS operations. Energy Vault’s innovative system architecture provides customer optionality with both battery and inverter suppliers, while unique AC-coupled and DC-coupled configurations provide the drop-in flexibility needed for any project.
“Energy Vault’s leading integrated hardware and software solution coupled with their deep technology and system design expertise makes Energy Vault an ideal partner for the Stony Creek BESS,” said Ross Warby, Chief Executive Officer of Enervest. “We value strong partnerships such as the one we have with Energy Vault and consider such collaborations as cornerstone to accelerated, quality project development. We look forward to consolidating further partnerships with other key stakeholders including the Narrabri local and indigenous community, and the successful delivery of the project.”
“We continue to expand and convert on our growing, multi-GWh funnel of energy storage projects in
Today’s announcement demonstrates the continued expansion of Energy Vault’s growing footprint in the Australian market, which follows recently announced projects already under execution in
About Energy Vault
Energy Vault® develops and deploys utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the Company’s hardware technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault’s G-Vault™ gravity-based energy storage technology is facilitating the shift to a circular economy while accelerating the global clean energy transition for its customers. Please visit www.energyvault.com for more information.
About Enervest Group
Enervest is an Australian-owned and operated energy developer with capability in the origination, development, design, construction and operation of utility and diversified energy generation and storage assets.
With over 15 years of industry experience, a proven track record for delivering complex projects, Enervest is focused on leading Australia’s energy transition. Our objective is to seize control of the opportunity to create a better energy grid by delivering impactful and positive energy and investment outcomes.
Our commitment is to develop projects which bring value for communities, benefit local infrastructure and engaging with stakeholders, local and first nations, to collaborate in a shared value model benefiting both local infrastructure and community.
Forward-Looking Statements
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Source: Energy Vault Holdings, Inc.
FAQ
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