AUSTRALIA —Energy Vault Holdings has converted its land tenure for the Stoney Creek Battery Energy Storage System (BESS) from a lease agreement to full site ownership. Located in Northern New South Wales, Australia, the project reached this execution milestone following regulatory approval from the Foreign Investment Review Board. Transitioning to direct real estate ownership secures long-term site control for the 125 MW / 1 GWh project, de-risking development ahead of scheduled ground-breaking in the first quarter of 2027.
Securing project land strengthens grid infrastructure stability across regional utility markets transitioning to intermittent renewable power generation. The facility features eight hours of dispatchable storage capacity designed to absorb surplus clean energy and reinforce high-demand distribution networks. Operations will be managed through proprietary software architecture to optimize market integration and real-time dispatch performance, with commercial operations targeted for the first half of 2028.
The project operates under a 14-year Long-Term Energy Service Agreement awarded via AEMO Services under the New South Wales Electricity Infrastructure Roadmap. This long-duration contract offers floor revenue stability estimated at approximately $25 million to $30 million annually. Revenue visibility combined with direct asset control supports lower financing costs and capital protection across the project's multi-decade operating lifecycle.
Energy Vault Holdings is a global grid infrastructure enterprise that develops, owns, and operates energy storage systems, energy management software, and power solutions for utilities, independent power producers, and high-performance computing centers. Transitioning assets into its build-own-operate platform aligns with broader power sector trends where developers favor long-term asset ownership over turn-key construction to secure recurring infrastructure revenues.
