Wedoany.com Report-Aug. 8, Energy Vault Holdings, Inc. has finalized the acquisition of the Stoney Creek Battery Energy Storage System (BESS) in Northern New South Wales, Australia, after receiving approval from the Foreign Investment Review Board (FIRB). The company confirmed the investment was completed following regulatory clearance, with the project’s transfer from Enervest Group initially announced in March 2025.

The 125 megawatt/1,000 megawatt-hour Stoney Creek BESS is now included in Energy Vault’s global “Own & Operate” portfolio. Secured under Roadmap Tender Round 5 for Long Duration Storage, the project benefits from a 14-year Long-Term Energy Service Agreement (LTESA). This contract ensures consistent revenue, reducing financial risks and supporting investment in vital energy storage infrastructure.

The Stoney Creek BESS is engineered to deliver eight hours of dispatchable energy, enhancing grid stability and adaptability in a significant area of New South Wales’ energy network. Energy Vault is managing the project’s development and integration, utilizing its VaultOS energy management platform and B-VAULT system for efficient operation.

Energy Vault noted: “The acquisition of Stoney Creek BESS strengthens our portfolio and supports the transition to a more reliable and flexible energy grid in New South Wales.” The project contributes to sustainable energy infrastructure, addressing the region’s need for robust storage solutions to support a transitioning energy landscape.