Energy Vault Completes Acquisition of Stoney Creek BESS in Australia, Generates $30M in Annual EBITDA

Energy Vault has secured final FIRB approval and completed the acquisition of the 125 MW/1,000 MWh Stoney Creek BESS in Australia, marking its first acquisition in the country. The project comes with a 14-year LTESA and is expected to generate $30 million in annual EBITDA over 15+ years. This adds to Energy Vault's portfolio, supporting Australia's transition to a low-carbon energy grid.

Energy Vault has successfully secured final Foreign Investment Review Board (FIRB) approval and completed the acquisition of the 125 MW/1,000 MWh Stoney Creek Battery Energy Storage System (BESS) in Australia. This marks the company's first acquisition in the country and reinforces its long-term commitment to Australia's energy transition [1].

The Stoney Creek BESS, located in Narrabri, 535 kilometres northwest of Sydney, will be integrated into Energy Vault's international "Own & Operate" portfolio. The project is expected to generate approximately $30 million in annual, recurring EBITDA over the next 15+ years, supported by a 14-year Long-Term Energy Service Agreement (LTESA) [2].

Energy Vault's Chairman and Chief Executive Officer, Robert Piconi, highlighted the strategic significance of the acquisition, stating, "The formal acquisition of Stoney Creek represents a first and very significant milestone in Energy Vault’s long-term investment strategy for Australia. As the first non-US project developed under our global ‘Own & Operate’ asset strategy, Stoney Creek underscores our focus on attractive, high growth markets for energy storage solutions supported by favorable regulatory policies as is the case with Australia" [1].

The Stoney Creek BESS will leverage Energy Vault's proprietary VaultOS™ platform and advanced B-Vault™ storage technology to deliver eight hours of dispatchable energy, enhancing grid reliability and flexibility in New South Wales [1]. The project is designed to support peak demand, enhance grid stability, and facilitate deeper integration of renewable energy sources across the region.

Energy Vault's acquisition of Stoney Creek BESS is part of a broader strategy to scale resilient, mission-critical energy infrastructure in Australia, supporting the country's decarbonization goals. The company's portfolio includes proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies, all supported by the company's hardware technology-agnostic energy management system software and integration platform [2].

References:
[1] https://www.pv-magazine-australia.com/2025/08/08/energy-vault-firms-up-1-gwh-stoney-creek-bess-acquisition/
[2] https://www.morningstar.com/news/business-wire/20250807895968/energy-vault-secures-final-firb-approval-and-completes-acquisition-of-125-mw1000-mwh-stoney-creek-bess-in-australia