10:03 AM EDT, 03/17/2025 (MT Newswires) -- 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 ( NRGV ) 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