Energy Vault acquires Stoney Creek Battery Energy Storage System

The acquisition was first announced in March 2025.

Energy Vault Holdings, Inc. has received approval and completed the full acquisition of the Stoney Creek Battery Energy Storage System (BESS) project in Northern New South Wales, Australia.

In a statement, the company said the investment position in the Stoney Creek BESS was formalised following receipt of Foreign Investment Review Board (FIRB) approval. The project’s takeover from Enervest Group was initially announced in March 2025.

Energy Vault said this development makes the 125 megawatt/1,000 megawatt-hour project a part of its international “Own & Operate” portfolio.

The BESS was awarded a 14-year Long-Term Energy Service Agreement (LTESA) under Roadmap Tender Round 5 for Long Duration Storage. This provides predictable, contracted revenue during the said period, helping 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.

Energy Vault is developing and integrating the project, utilising its VaultOS energy management platform and B-VAULT system.