Energy Vault to Supply Victorian Government-Owned Renewable Energy Company with 100 MW/200 MWh Battery Energy Storage System
Energy Vault (NYSE: NRGV) has secured an agreement with Victoria's State Electricity Commission (SEC) to deliver a 100 MW/200 MWh battery energy storage system at the SEC Renewable Energy Park in Horsham, Victoria. The hybrid solar and BESS project represents a $370 million investment by SEC.
The renewable energy park will feature over 212,000 photovoltaic solar panels generating 119MW of solar power, with an annual capacity of 242,000 MWh. The project will power approximately 51,000 homes and create 246 construction jobs. The BESS system will utilize Energy Vault's X-VAULT™ integration platform, B-VAULT™ product, and VaultOS™ Energy Management System.
Construction has begun with full operations expected by late 2027. This marks Energy Vault's first government collaboration and expands its Australian presence, where the company's B-VAULT portfolio includes over 2GWh in deployed or developing projects.
Energy Vault (NYSE: NRGV) ha siglato un accordo con la Commissione Elettrica dello Stato di Victoria (SEC) per realizzare un sistema di accumulo di energia a batteria da 100 MW/200 MWh presso il Parco Energetico Rinnovabile SEC a Horsham, Victoria. Il progetto ibrido solare e BESS rappresenta un investimento di 370 milioni di dollari da parte della SEC.
Il parco energetico rinnovabile presenterà oltre 212.000 pannelli solari fotovoltaici in grado di generare 119 MW di energia solare, con una capacità annuale di 242.000 MWh. Il progetto alimenterà circa 51.000 abitazioni e creerà 246 posti di lavoro nel settore delle costruzioni. Il sistema BESS utilizzerà la piattaforma di integrazione X-VAULT™ di Energy Vault, il prodotto B-VAULT™ e il Sistema di Gestione Energetica VaultOS™.
I lavori di costruzione sono già iniziati e si prevede che le operazioni complete siano attive entro la fine del 2027. Questo segna la prima collaborazione del governo per Energy Vault e amplia la sua presenza in Australia, dove il portafoglio B-VAULT della società include oltre 2 GWh di progetti in fase di implementazione o sviluppo.
Energy Vault (NYSE: NRGV) ha asegurado un acuerdo con la Comisión de Electricidad del Estado de Victoria (SEC) para entregar un sistema de almacenamiento de energía en batería de 100 MW/200 MWh en el Parque de Energía Renovable SEC en Horsham, Victoria. El proyecto híbrido solar y BESS representa una inversión de 370 millones de dólares por parte de la SEC.
El parque de energía renovable contará con más de 212,000 paneles solares fotovoltaicos que generarán 119 MW de energía solar, con una capacidad anual de 242,000 MWh. El proyecto proporcionará energía a aproximadamente 51,000 hogares y creará 246 empleos en la construcción. El sistema BESS utilizará la plataforma de integración X-VAULT™ de Energy Vault, el producto B-VAULT™ y el Sistema de Gestión de Energía VaultOS™.
La construcción ha comenzado y se espera que las operaciones completas estén activas para finales de 2027. Esto marca la primera colaboración gubernamental de Energy Vault y amplía su presencia en Australia, donde el portafolio B-VAULT de la compañía incluye más de 2 GWh en proyectos desplegados o en desarrollo.
에너지 볼트 (NYSE: NRGV)는 빅토리아 주 전기 위원회 (SEC)와 100 MW/200 MWh 배터리 에너지 저장 시스템을 호시엄의 SEC 재생 에너지 공원에 제공하기 위한 계약을 체결했습니다. 이 하이브리드 태양광 및 BESS 프로젝트는 SEC의 3억 7천만 달러 투자로 이루어집니다.
재생 에너지 공원은 212,000개 이상의 태양광 패널을 갖추고 있으며, 119MW의 태양광 발전을 생성하고 연간 242,000 MWh의 용량을 갖습니다. 이 프로젝트는 약 51,000 가구에 전력을 공급하고 246개의 건설 일자리를 창출할 것입니다. BESS 시스템은 에너지 볼트의 X-VAULT™ 통합 플랫폼, B-VAULT™ 제품 및 VaultOS™ 에너지 관리 시스템을 활용합니다.
건설이 시작되었으며, 2027년 말까지 완전한 운영이 예상됩니다. 이는 에너지 볼트의 첫 정부 협력 사례로, 회사의 B-VAULT 포트폴리오는 호주에서 2GWh 이상의 배치 또는 개발 중인 프로젝트를 포함합니다.
Energy Vault (NYSE: NRGV) a conclu un accord avec la Commission Électrique de l'État de Victoria (SEC) pour livrer un système de stockage d'énergie par batterie de 100 MW/200 MWh au Parc Énergétique Renouvelable de la SEC à Horsham, Victoria. Ce projet hybride solaire et BESS représente un investissement de 370 millions de dollars de la part de la SEC.
Le parc énergétique renouvelable comportera plus de 212 000 panneaux solaires photovoltaïques générant 119 MW d'énergie solaire, avec une capacité annuelle de 242 000 MWh. Le projet alimentera environ 51 000 foyers et créera 246 emplois dans le secteur de la construction. Le système BESS utilisera la plateforme d'intégration X-VAULT™ d'Energy Vault, le produit B-VAULT™ et le Système de Gestion Énergétique VaultOS™.
La construction a déjà commencé et les opérations complètes sont attendues d'ici fin 2027. Cela marque la première collaboration gouvernementale d'Energy Vault et élargit sa présence en Australie, où le portefeuille B-VAULT de l'entreprise comprend plus de 2 GWh de projets déployés ou en développement.
Energy Vault (NYSE: NRGV) hat eine Vereinbarung mit der Staats-Elektrizitätskommission von Victoria (SEC) getroffen, um ein 100 MW/200 MWh Batteriespeichersystem im SEC Renewable Energy Park in Horsham, Victoria, zu liefern. Das hybride Solar- und BESS-Projekt stellt eine Investition von 370 Millionen Dollar seitens der SEC dar.
Der erneuerbare Energiepark wird über 212.000 Photovoltaik-Solarmodule verfügen, die 119 MW Solarenergie erzeugen, mit einer jährlichen Kapazität von 242.000 MWh. Das Projekt wird etwa 51.000 Haushalte mit Strom versorgen und 246 Arbeitsplätze im Bauwesen schaffen. Das BESS-System wird die Integrationsplattform X-VAULT™ von Energy Vault, das Produkt B-VAULT™ und das VaultOS™ Energiemanagementsystem nutzen.
Der Bau hat begonnen, und die vollständigen Betriebsabläufe werden bis Ende 2027 erwartet. Dies markiert die erste Zusammenarbeit von Energy Vault mit der Regierung und erweitert deren Präsenz in Australien, wo das B-VAULT-Portfolio des Unternehmens über 2 GWh an implementierten oder in Entwicklung befindlichen Projekten umfasst.
- $370 million project investment secured with government entity
- Project will generate 242,000 MWh annually
- Expansion into government sector with first public collaboration
- Growing presence in Australian market with over 2GWh in total projects
- Long implementation timeline with operations starting late 2027
Insights
This
The deployment of Energy Vault's proprietary technology stack - X-VAULT, B-VAULT, and VaultOS - demonstrates significant competitive advantages:
- The flexible architecture allows for multiple battery and inverter supplier options, reducing supply chain risks
- Both AC-coupled and DC-coupled configurations provide superior integration flexibility
- UL9540 certification ensures compliance with stringent safety standards
The project's scope and scale are particularly noteworthy within Australia's rapidly evolving energy landscape. With this contract, Energy Vault's total Australian project portfolio exceeds 2GWh, indicating strong market penetration in a key growth region. The government backing through SEC adds credibility and could catalyze similar partnerships in other jurisdictions.
The 2027 operational timeline aligns with Victoria's renewable energy targets and positions Energy Vault as a key enabler of grid modernization. The project's ability to power 51,000 homes while creating 246 construction jobs demonstrates the dual economic and environmental benefits of large-scale energy storage deployments.
The hybrid architecture's emphasis on firm, dispatchable power addresses a critical challenge in renewable energy integration - intermittency. By providing two-hour storage duration, the system can effectively manage peak demand periods and enhance grid reliability, a important factor for government utilities focused on energy security.
State Electricity Commission (SEC) Renewable Energy Park - Horsham BESS to provide flexible, grid-scale energy storage solution, supporting the delivery of affordable and reliable renewable energy to more than 50,000 Australian homes while enhancing grid stability
Collaboration serves as a further expansion of Energy Vault’s rapidly-growing commercial footprint in the Australian market following previously announced project awards totaling 1.9 GWh of energy storage
The SEC Renewable Energy Park - Horsham is one of Australia’s first
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The BESS system will be built with Energy Vault’s proprietary X-VAULT™ integration platform using the Company’s proprietary UL9540 certified B-VAULT™ product, and VaultOS™ Energy Management System to control, manage and optimize the Hybrid 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.
“We are pleased to further expand our footprint of energy storage systems in the dynamic and rapidly growing Australian market and work with SEC on this innovative hybrid project architecture,” said Robert Piconi, Chairman and CEO, Energy Vault. “As our first government collaboration, this publicly-owned project is well-aligned with our mission to accelerate the clean energy transition through sustainable and efficient energy storage solutions and will play a pivotal role in ensuring the availability of renewable energy.”
“We’re looking forward to working with Energy Vault on the delivery and integration of the battery storage system at the SEC Renewable Energy Park – Horsham,” said SEC CEO Chris Miller. “This project demonstrates SEC’s ongoing efforts to drive Victoria’s transition to renewables.”
Today’s announcement marks a key advancement of Energy Vault’s growing commercial footprint in the Australian market, following a series of recent agreements, including with Enervest and ACEN Australia for BESS deployments. To date, Energy Vault’s B-VAULT portfolio consists of more than 2GWh in total projects either deployed or currently in development.
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 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 the SEC
The SEC is a government-owned renewable energy company focused on:
- Investing in renewable energy and storage projects that accelerate the transition and deliver sustainable returns;
- Supporting households to go all-electric to reduce their energy bills and emissions; and
- Building the renewable energy workforce our energy transition requires.
Learn more at secvictoria.com.au.
Forward-Looking Statements
This press release includes forward-looking statements that reflect the Company’s current views with respect to, among other things, the Company’s operations and financial performance, including the Horsham BESS. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “project,” “forecast,” “estimates,” “targets,” “projections,” “should,” “could,” “would,” “may,” “might,” “will” and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans, and assumptions, which we have made in light of our experience in our industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at the time. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to us. These forward-looking statements are only predictions based upon our current expectations and projections about future events. These forward-looking statements involve significant risks and uncertainties that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the failure to execute definitive agreements, changes in our strategy, expansion plans, customer opportunities, future operations, future financial position, estimated revenues and losses, projected costs, prospects and plans; the uncertainly of our awards, bookings, backlog, timing of permits and developed pipeline equating to future revenue; the lack of assurance that non-binding letters of intent and other indication of interest can result in binding orders or sales; the possibility of our products to be or alleged to be defective or experience other failures; the implementation, market acceptance and success of our business model and growth strategy; our ability to develop and maintain our brand and reputation; developments and projections relating to our business, our competitors, and industry; the ability of our suppliers to deliver necessary components or raw materials for construction of our energy storage systems in a timely manner; the impact of health epidemics, on our business and the actions we may take in response thereto; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; expectations regarding the time during which we will be an emerging growth company under the JOBS Act; our future capital requirements and sources and uses of cash; the international nature of our operations and the impact of war or other hostilities on our business and global markets; our ability to obtain funding for our operations and future growth; our business, expansion plans and opportunities and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 13, 2024, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws. You should not place undue reliance on our forward-looking statements.
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Energy Vault Contacts
Media
media@energyvault.com
Investors
energyvaultIR@icrinc.com
SEC Contacts
Debbie.guest@secvictoria.com.au
Source: Energy Vault Holdings, Inc.
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