Energy Vault, ACEN Australia Announce Agreement for 400 MWh of Battery Energy Storage Deployments
ACEN Australia and
The 50 MW/100 MWh and 150 MW/300 MWh New England Solar BESS deployments will begin construction in the second half of 2024 with the start of commercial operations expected in 2025
Agreement with one of Australia’s largest renewable energy producers represents execution of Energy Vault’s long term strategy and investment commitments to energy storage for the Australian market
Under the agreement,
ACEN Australia’s New England Solar, located near Uralla, completed Stage 1 of construction in 2023, when 400MW of solar generation was officially brought online. Upon completion of Stage 2, the site will generate a total of 1,800 GWh of renewable electricity annually. In 2023, ACEN Australia secured a 20 year Long Term Energy Service Agreement (LTESA) for New England Solar in the NSW Government’s first renewable energy and storage auction. The LTESA is a risk management mechanism that will support the project in the future if the National Electricity Market moves into a sustained period of low prices.
“ACEN Australia’s New England Solar is a critical source of renewable energy for the NSW region, and we are proud to play a role in ensuring its ability to reliably provide the region with clean power in the most efficient and cost-effective manner possible,” said
“Energy Vault was selected for these projects due to their impressive track record and we are thrilled to leverage their depth of expertise in design, engineering, construction and procurement,” said ACEN Australia Managing Director
The BESS deployments, developed under Energy Vault’s B-VAULT™ suite of fully integrated battery energy storage solutions, will be coupled with a Siemens S120 inverter, which enables advanced grid support functionalities such as voltage and frequency ride-through, grid support during disturbances, and reactive power control. The use of the Siemens S120 inverter, combined with Energy Vault’s proprietary X-Vault integration platform and Vault-OS Energy Management System to control, manage and optimize the BESS operations, will allow for superior energy management capabilities.
About
Energy Vault® develops and deploys utility-scale energy storage solutions designed to transform the world's approach to sustainable energy storage. The Company's comprehensive offerings include proprietary gravity-based storage, battery storage, and green hydrogen energy storage technologies. Each storage solution is supported by the Company’s hardware technology-agnostic energy management system software and integration platform. Unique to the industry, Energy Vault’s innovative technology portfolio delivers customized short-and-long-duration energy storage solutions to help utilities, independent power producers, and large industrial energy users significantly reduce levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault’s EVx™ gravity-based energy storage technology is facilitating the shift to a circular economy while accelerating the global clean energy transition for its customers. Please visit www.energyvault.com for more information.
About ACEN Australia
ACEN Australia is the platform representing ACEN’s renewable energy assets in
www.acenrenewables.com.au
Forward-Looking Statements
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Energy Vault Contacts
Investors
energyvaultIR@icrinc.com
Media
media@energyvault.com
ACEN Australia Contact
Manager,
0408 271 101
Joey.chalk@acennrenewables.com.au
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