NV Energy, Nevada’s largest public utility, has chosen Energy Vault to construct a 220 MW/440 MWh grid-tied battery energy storage system (BESS) to be deployed at a site located near Las Vegas. The 2-hour energy storage system is designed to store and dispatch excess renewable energy, including solar and wind power, and will be charged and discharged on a daily basis. The BESS is designed to dispatch stored renewable energy at peak consumption hours to help meet the high demand during Nevada’s peak load hours.
“Energy Vault is pleased to be selected by NV Energy for a mission critical project supporting Nevada’s largest electric provider in achieving its goal of net zero emissions by 2050,” said Marco Terruzzin, chief commercial and product officer of Energy Vault. “This is Energy Vault’s first public utility customer for our short duration energy storage solutions, which furthers our strategy to be the energy storage company of choice for utilities, IPPs and large energy users. We look forward to beginning our relationship with NV Energy to help them meet their IRP needs for both short and long duration energy storage.”
In August, Energy Vault and Jupiter Power announced the signing of two contracts whereby Energy Vault will supply equipment, engineering, procurement, construction, balance of plant services and the energy management software for two of Jupiter’s battery energy storage projects, one in Texas and the other in California. For the Texas project, Energy Vault will supply a 100 MW (200 MWh) battery energy storage system at a Jupiter Power Facility, which will provide energy and ancillary services to ERCOT. For the California installation, Energy Vault will construct and commission a 10 MW (20 MWh) BESS for Jupiter Power in that will participate in the CAISO Resource Adequacy program.
Energy Vault announced in its Q3 earnings report revenue of $1.7 million, driven by revenue from these energy storage projects with Jupiter Power in Texas and California. The company reported project awards of approximately 2 GWh of energy storage systems, including its first 48-hour long-duration hybrid system using green hydrogen. In total, Energy Vault reports that it currently has a portfolio of approximately 4.8 GWh of contracted and awarded projects, equally distributed between short and long duration.
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