ENERGY STORAGE

Energy Vault & ACEN Australia enter agreements for 400 MWh of battery storage

May 10, 2024

Grid-scale energy storage systems provider Energy Vault and ACEN Australia have entered agreements for two battery energy storage system (BESS) deployments totalling 400 MWh in Australia.

Construction on both projects is expected to begin in the second half of 2024, with commercial operations expected in 2025 and 2026.

Under the agreements, Energy Vault will deploy both a 50 MW/100 MWh BESS and a 150 MW/300 MWh BESS at ACEN Australia’s 720 MW New England Solar project “one of the largest solar projects to participate in Australia’s National Electricity Market (NEM),” according to an Energy Vault statement.

ACEN Australia’s New England Solar, located near Uralla, completed stage one of construction in 2023, when 400MW of solar generation was brought online. Upon completion of stage two, 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.

Robert Piconi, chairman and CEO at Energy Vault, said: “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. These deployments, and the tight timelines under which they will be delivered, stand as a testament to Energy Vault’s commitment to a customer-centric approach to energy storage as well as evidence of the growing global demand for reliable and effective energy storage solutions. We see today’s agreement as just the first step in a long and fruitful relationship with ACEN and their renewable power generation projects moving forward.”

David Pollington, ACEN Australia managing director, added: “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. Energy Vault’s ability to work with our Siemens S120 converters will be particularly valuable as we optimise our battery storage systems for maximum efficiency and impact.”