Energy Vault, Enervest to build $350 million energy storage project

25 Oct 2024 CW Team

Energy Vault Holdings has announced a partnership with Enervest Group to develop a 1-gigawatt-hour (GWh) battery energy storage system (BESS) worth $350 million at the Stoney Creek site in New South Wales, Australia.

As the global shift toward clean energy accelerates, BESS projects play a crucial role in storing excess power generated from renewable sources, which can be deployed during periods of low generation or high demand, ensuring grid stability.

Japan’s energy major Inpex also recently approved a solar power and battery storage project in New South Wales to reduce carbon emissions, reflecting the region’s growing focus on sustainable energy solutions.

Energy Vault will act as the turn-key partner, overseeing engineering, procurement, construction, commissioning, and system integration for the project. The company stated that development work and grid application approvals are being finalized to achieve full financial investment decision (FID) status soon.

(ET)

Real Estate

07 Aug 2026

BXB Estates Sets AED 110 Million Jumeirah Golf Estates Record

BXB Estates has completed an AED 110 million residential transaction at Jumeirah Golf Estates, setting a new sales record for the prestigious Dubai residential community.Negotiated by Alfie Tabrez, Managing Partner of BXB Estates, the deal surpassed the previous record of AED 58 million for a completed ready villa in the development.The six-bedroom residence offers 21,714 sq ft of built-up space on a 15,873-sq-ft plot. It features nine bathrooms, four living lounges, a home office, bar lounge, private cinema and rooftop terrace.The property also includes a dedicated wellness area comprising a ..

SECR Floats Rs 6,019 Mn EPC Tender For Paradol Nagpur Link

South East Central Railway (SECR) has invited bids for an Engineering, Procurement and Construction (EPC) contract to build a new broad gauge single line between Paradol Takeoff Point and Nagpur Road Station in Chhattisgarh. The contract carries an estimated cost of Rs 6,019.0 mn and requires an earnest money deposit of Rs 120.4 mn. The work is framed as an EPC assignment intended to strengthen regional rail infrastructure. The tender, issued under number CAO-C-BSP-26-27-15, specifies a completion period of 730 days and a bid validity of 180 days. Two pre-bid meetings are scheduled for 24 Augu..

Indian Railways Reports Nine Per Cent Rise In July Freight Loading

Indian Railways handled 141.3 million tonnes (141.3 mn t) of freight in July, marking a rise of nine per cent year on year. Freight loading maintained a positive trajectory across the network compared with the same month last year. Passenger traffic also increased in July, contributing to higher overall network utilisation. The July outcome continued a pattern of steady monthly gains, reflecting gradual improvement in industrial and logistics activity. The growth in freight volumes reflected stronger demand across multiple sectors and improvements in logistics and train turnarounds. Enhanced r..