Energy Vault Stoney Creek BESS Gets New South Wales Development Approval

11:03 AM EDT, 09/29/2026 (MT Newswires) -- Energy Vault (NRGV) received State Significant Development Approval from the New South Wales government for its 125 megawatt/1 gigawatt-hour Stoney Creek battery storage project in Narrabri, Australia, the company said Tuesday. The company said geotechnical work was completed in late August, with site works and mobilization expected to begin in Q4 2026 and commercial operations targeted for H1 2028. The project has a 14-year Long-Term Energy Service Agreement, with Energy Vault expecting the agreement and merchant revenues to support about $25 million to $30 million in annual revenue once operational, it added. Energy Vault shares were up 2.4% in Tuesday trading. Price: 4.12, Change: +0.07, Percent Change: +1.73