Energy Vault (NRGV) said Monday it has agreed to acquire Stoney Creek Battery Energy Storage System from Enervest Group.
The 125 megawatts / 1,000 megawatt-hour project in New South Wales, Australia, with a construction value of $220 million, has been awarded a 14-year long-term energy service agreement rom the Australian Energy Market Operator.
The project is expected to provide eight hours of dispatchable energy in New South Wales using Energy Vault's VaultOS and B-Vault systems, with Enervest handling development and stakeholder engagement until financial close, the company said.
NRGV shares were down 1.7% in early trading Monday.
Price: 1.14, Change: -0.01, Percent Change: -0.87
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