Grid-scale energy storage firm Energy Vault has completed its acquisition of the Stoney Creek Battery Energy Storage System (BESS) project in northern New South Wales.
The 125MW/1,000MWh project now formally enters Energy Vault’s international ‘own and operate’ portfolio.
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Coupled with Energy Vault’s proprietary VaultOS platform and advanced B-VAULT storage technology, the Stoney Creek BESS will offer critical dispatchable capacity to support peak demand, enhance grid stability, and enable deeper integration of renewable energy sources across New South Wales.
The 125 MW/1,000 MWh BESS was awarded a 14-year Long-Term Energy Service Agreement (LTESA), which provides up to 14 years of predictable, contracted revenue, helping to de-risk the project and accelerate investment in critical storage infrastructure.
The Stoney Creek BESS has been designed to deliver eight hours of dispatchable energy, and once operational, will support grid reliability and flexibility in a strategic location within NSW’s transitioning energy landscape.
“The formal acquisition of Stoney Creek represents a first and very significant milestone in Energy Vault’s long-term investment strategy for Australia,” Energy Vault CEO and chair Robert Piconi said.
“As the first non-US project developed under our global ‘own and operate’ asset strategy, Stoney Creek underscores our focus on attractive, high growth markets for energy storage solutions supported by favorable regulatory policies as is the case with Australia.
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“We have multiple storage projects in various stages of construction across eastern Australia, and we look forward now to focusing on moving the Stoney Creek BESS rapidly to RTB construction and eventual operation in order to maximise the benefits for the local communities while supporting the NSW regional decarbonisation goals.”
Stoney Creek represents one of several large-scale ‘own and operate’ assets Energy Vault is advancing across Australia, underpinning a growing pipeline of energy storage deployments.
