Westlake Village-based Energy Vault Holdings Inc., which specializes in grid-scale energy storage projects, has signed an agreement with an Australian company for the deployment of a 1,000 megawatt-hour battery energy storage system in that country’s state of New South Wales.
While the overall project value was not disclosed, a spokesman for Energy Vault said the value of Energy Vault’s share in the project is about $350 million.
The project is being developed by Enervest Group, an energy developer headquartered in South Yarra in the Australian state of Victoria. The battery energy storage system will be located in the New South Wales town of Narrabri, about 330 miles northwest of Sydney.
According to Energy Vault’s announcement, the battery storage project will have a capacity of 1,000 megawatt hours, enough to power 1,000 homes for about 10 days.
The overall project still needs approvals from Australian grid officials.
Energy Vault will serve as the engineering, procurement, construction and system integrator for the project. Energy Vault’s technology allows for both alternating current (AC) and direct current (DC) configurations, giving the energy storage plant maximum flexibility when connecting to the regional power grid.
For Energy Vault, which deploys energy storage systems using a variety of technologies – chiefly battery and gravity storage – this is the third battery energy storage project in Australia. In May, the company signed agreements with the Australian subsidiary of Philippines-based ACEN Corp. for two battery energy storage projects at a single major project site near Uralla, also in New South Wales.