Energy Vault Holdings Inc. has made a final investment decision (FID) to deploy a 57-MW/114-MWh battery energy storage system (BESS) in Scurry County, Texas, marking a significant step for the company's expansion in the energy storage sector.
The Cross Trails BESS project is scheduled to enter construction in the first quarter of 2025, with completion expected by summer 2025.
The project will utilize Energy Vault's proprietary X-Vault integration platform, including the company's B-VAULT product, certified under UL9540, and the VaultOS Energy Management System to optimize operations.
In addition to the BESS, Energy Vault has secured a 10-year offtake agreement with AI-enabled power marketer Gridmatic, which will take effect in the second quarter of 2025.
This agreement represents the first physically settled revenue floor contract for a BESS in the Electric Reliability Council of Texas (ERCOT) market. The contract is supported by Energy Vault's Energy Storage Fund, which was previously announced by the company.
