Partnership to Boost Solar Energy Storage
Energy Vault Holdings, Inc. (NYSE: NRGV), a leader in sustainable, grid-scale energy storage solutions, has announced a significant new contract with ACEN Australia. This contract covers the deployment of two battery energy storage systems (BESS) totaling 400 MWh in capacity. The agreement involves engineering, procurement, construction (EPC), and operation and maintenance (O&M) services for the BESS, which will be co-located with ACEN’s New England Solar project.
Enhancing Energy Storage with Advanced Technology
Energy Vault will spearhead the construction of the New England BESS in New South Wales. The project is scheduled to commence this year and be operational by 2026. ACEN Australia’s Managing Director, David Pollington, emphasized the significance of the battery and its grid-forming inverters, which he described as a game-changer for the National Electricity Market.
“The New England BESS will utilize advanced grid-forming inverter technology, providing system stability services similar to those currently offered by coal, hydro, and gas generators,” Pollington stated. He highlighted the critical role of large battery energy storage systems in transitioning to a renewable energy grid, especially with the impending closure of New South Wales’ coal-fired generators.
Pivotal Role in Global Clean Energy Transition
Robert Piconi, Chairman and CEO of Energy Vault, underscored Australia’s pivotal role in the global clean energy transition. “We are excited to join forces with ACEN Australia in our shared mission to create a sustainable future,” Piconi said. The BESS will be charged and discharged daily, designed to dispatch stored renewable energy during peak consumption hours, thereby reducing reliance on coal-fired power generation.
Supported by the NSW Government’s Emerging Energy Program, the New England BESS project is part of ACEN’s broader strategy in Australia, where they are actively developing over 1 GW of projects. The battery will be co-located with ACEN’s inaugural project, New England Solar, making it one of the nation’s largest solar and battery energy storage facilities.
About Energy Vault
Energy Vault develops and deploys utility-scale energy storage solutions designed to transform the world’s approach to sustainable energy storage. The company’s offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each solution is supported by an energy management system and integration platform, providing customized short-and-long-duration energy storage solutions.
Energy Vault’s innovative technology portfolio helps utilities, independent power producers, and large industrial energy users reduce levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials and integrating waste materials for beneficial reuse, Energy Vault’s EVx™ gravity-based energy storage technology facilitates the shift to a circular economy, accelerating the global clean energy transition.
Forward-Looking Statements
This press release includes forward-looking statements that reflect the company’s current views regarding its operations and financial performance. These statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors affecting these forward-looking statements include strategy changes, expansion plans, customer opportunities, future operations, financial performance, and industry developments. For detailed risk factors, refer to Energy Vault’s Annual Report on Form 10-K filed with the SEC.
Source：businesswire.com
