Energy Vault to Supply 1GWh BESS for Enervest in Australia
By George Heynes
October 22, 2024
Energy storage integrator Energy Vault has partnered with Enervest Group to deliver a 1GWh battery energy storage system (BESS) in New South Wales, Australia. The BESS will be situated at Stoney Creek, located west of Port Macquarie, and is designed to provide grid reliability services to the National Electricity Market (NEM), facilitating the increased adoption of renewable energy generation technologies.
As part of the agreement, both companies are currently finalizing the development and approval processes for grid applications to move the project toward a full Financial Investment Decision (FID). Energy Vault, known for its proprietary gravity energy storage technology, will construct the BESS using its X-Vault integration platform along with its UL9540 and AS3000 certified B-VAULT product. Additionally, the company will implement its Vault-OS Energy Management System to oversee, manage, and optimize the operations of the BESS.
Robert Piconi, Chairman of the Board and CEO of Energy Vault, praised the company’s expanding energy storage portfolio in Australia, emphasizing its focus on “large-scale and financially attractive projects to enhance grid resiliency.” In 2022, Energy Vault was selected to provide the BESS for Victoria’s 330MW Meadow Creek solar PV plant. Earlier this year, it was also appointed by Acen Australia to supply a 200MW/400MWh BESS for its New England project in New South Wales, which will be co-located with a 720MW solar PV power plant.
On a global scale, Energy Vault has recently commissioned several projects, including a BESS in Texas and its inaugural gravity storage project. The company has also introduced various new designs for its gravity storage technology, including one intended for use in skyscrapers, in collaboration with renowned architecture consultancy SOM.
In September, Energy Vault received a written notice from the New York Stock Exchange (NYSE) indicating that its common stock price had fallen below the US$1.00 minimum requirement for continued listing. The NYSE granted Energy Vault six months to regain compliance, and the company provided an update earlier this month regarding its strategic growth plan announced five months ago. As of 4 PM yesterday, its common stock was trading at US$1.90.
Commenting on the new partnership, Ross Warby, CEO of Enervest, described it as a “cornerstone to accelerated quality project development.” He expressed enthusiasm for forging additional partnerships with key stakeholders, including the local and indigenous community in Narrabri, and for the successful execution of the project.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/energy-vault-partners-with-enervest-to-deliver-1gwh-battery-energy-storage-system-in-new-south-wales-australia/
