Grid-scale energy storage solutions provider Energy Vault has secured a 14-year long-term energy service agreement (LTESA) for its Stoney Creek battery energy storage system (BESS) in Australia.
The agreement was awarded by the Australian Energy Market Operator Services under the New South Wales (NSW) Roadmap Tender Round 5.
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Located in Narrabri, NSW, the Stoney Creek BESS features a one gigawatt-hour battery system with a 125MVA [megavoltamperes] connection. Energy Vault is developing the project in partnership with Enervest.
The project entails an investment of A$350m ($220m) and is among the largest eight-hour long-duration battery systems in Australia.
It will provide large-scale dispatchable storage capacity in NSW, enhancing grid stability and facilitating the integration of renewable energy sources.
The Stoney Creek BESS will be among the first Australian projects in Energy Vault’s owned and operated portfolio.
Energy Vault chairman and CEO Robert Piconi stated: “The Stoney Creek project serves as an important regional milestone at large scale that demonstrates execution of our ‘own and operate’ growth strategy.
“We are quickly advancing this new market segment since announcing the strategy last May and view the Australian market as a large and important growth driver in building, maintaining and operating energy storage systems.
“Our expertise in designing, building, operating and maintaining energy storage systems with the highest levels of safety and reliability have uniquely positioned Energy Vault to deliver systems at lower capex [capital expenditure] and opex [operating expenses] costs while securing long-term, predictable and profitable cash flow streams for our shareholders.”
The Stoney Creek BESS is expected to balance renewable generation, support wholesale price stability and minimise renewable curtailment.
The project site is now secured, and all regulatory approvals and permits are progressing positively.
Pre-construction activities and final design approvals will commence once the LTESA is officially granted.
The project will create 150 jobs at peak construction and four full-time operational roles.
Once final procedural and DA approvals are in place, site mobilisation, pre-construction and procurement activities are planned for the second half of 2025.
