Energy Vault Secures Full Ownership of 125 MW Stoney Creek BESS Site in Australia
NRGV has more than doubled off its 52-week low of $1.73 on light trading volume (0.1× avg).
Summary
Energy Vault completed the land acquisition for its 125 MW / 1 GWh Stoney Creek battery storage project in New South Wales, Australia, after receiving FIRB approval. The site was previously under a lease agreement; full ownership de-risks the project and strengthens long-term control. Construction is slated to begin Q1 2027 with commercial operations targeted for H1 2028, backed by a 14-year LTESA from AEMO Services. This milestone advances the company's Build, Own & Operate strategy and adds a contracted, long-duration asset to its portfolio. The project is expected to provide eight hours of dispatchable storage, supporting grid reliability in NSW.
At the time of this announcement, NRGV was trading at $3.59 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $654.6M. The 52-week trading range was $1.73 to $6.65. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.