Battery Storage Acquisitions

Energy Vault completed the acquisition of the underlying project land for its 125 MW/1 GWh Stoney Creek Battery Energy Storage System in Northern New South Wales, Australia, securing full ownership after receiving approval from the Foreign Investment Review Board. The project is backed by a 14-year Long-Term Energy Service Agreement awarded through AEMO Services, providing long-term revenue visibility as the project advances toward construction.

Construction on Stoney Creek is expected to begin in early 2027, with commercial operations targeted for the first half of 2028. The facility is designed to provide eight hours of dispatchable energy storage, supporting grid reliability and helping integrate additional renewable generation into the New South Wales power system.

Energy Vault's acquisition signals that companies are strengthening long-term control over flagship assets to secure more durable, predictable revenue as large-scale storage projects advance toward construction.