Energy Vault acquires land for 1 GWh Australia battery project

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Go back to Energy Vault acquires land for 1 GWh Australia battery project

Energy Vault Accelerates 125 MW / 1 GWh Stoney Creek BESS Toward Construction with Full Project Land Acquisition Milestone in Australia

September 3, 2026 10:40 AM EDT

Energy Vault completes acquisition of the underlying project land following FIRB government approval, converting from existing lease agreement to full land ownership, advancing construction readiness for the 125 MW / 1 GWh Stoney Creek BESS

Construction now expected to commence in Q1 2027, with commercial operations targeted for H1 2028; the project is supported by a 14-year Long-Term Energy Service Agreement (LTESA), providing expected annual, long-term revenue of approximately $25-$30 million per year

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Energy Vault Holdings, Inc. (NYSE: NRGV) (Energy Vault or the Company), a global energy... More