Energy storage developer Energy Vault is set to fully acquire the 125MW/1GWh Stoney Creek battery energy storage system (BESS) in New South Wales, Australia, from Enervest Group.
Battery storage can turn record-high instances of negative spot pricing in Australia’s National Electricity Market (NEM) into investment opportunities.
On day one of the Energy Storage Summit Australia 2025, the audience heard that although 2 to 4-hour duration battery energy storage systems (BESS) are favourable, longer durations are starting to challenge this.
February 2025 saw around 4.5GW/10.5GWh of grid-scale BESS deployments globally, with China continuing to account for the majority but Europe increasing its share from January.