Energy Vault Secures New South Wales State Development Approval for 125 MW / 1 GWh Stoney Creek BESS, Clearing the Path for Construction Start
Business Wire•29/09/2026•10:35 ET
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Key Highlights
- ➤125 MW / 1 GWh Stoney Creek BESS receives New South Wales State Development Approval
- ➤Site works and mobilization expected to begin Q4 2026
- ➤Commercial operations expected to start in H1 2028
- ➤14-year LTESA and merchant revenues expected to support US$25–30 million annual revenue
- ➤Energy Vault (NRGV) now owns the project land outright
Expert Statements
Raymond Gilfedder, General Manager of Energy Vault Australia
“Securing state development approval for Stoney Creek is a significant achievement for the project and reflects several years of disciplined development, engineering and stakeholder engagement.”
Raymond Gilfedder, General Manager of Energy Vault Australia
“This approval materially advances our path toward construction and provides a clear planning framework for the project’s delivery and long-term operation.”
Marco Terruzzin, Chief Revenue Officer of Energy Vault
“Stoney Creek now has state development approval, land ownership and a 14-year LTESA, bringing a major Australian infrastructure asset closer to construction.”
Marco Terruzzin, Chief Revenue Officer of Energy Vault
“This is our Build, Own & Operate strategy in action.”
Marco Terruzzin, Chief Revenue Officer of Energy Vault
“We are progressing a large-scale storage project toward delivery while retaining the long-term economics through ownership and operation.”
Energy Vault Secures New South Wales State Development Approval for 125 MW / 1 GWh Stoney Creek BESS, Clearing the Path for Construction Start
State Development Approval milestone for the 125 MW, eight-hour long duration project follows Energy Vault's recent outright acquisition of the project land, marking the second major project milestone secured in recent weeks and advancing the project to site construction.
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