Energy Vault Holdings Inc. on Nov. 8 announced plans for the deployment of a 57 MW/114 MWh Battery Energy Storage System in Scurry County, Texas, as well as the signing of a 10-year offtake agreement with Gridmatic, an AI-enabled power marketer.
Construction of the Cross Trails BESS is expected to begin in Q1 2025, with commercial operation expected by summer 2025.
The Cross Trails BESS, which will be built, owned and operated by Energy Vault, will provide energy and ancillary services to support renewable energy production and improve grid resiliency in the Electric Reliability Council of Texas region.
In conjunction with the BESS deployment, Energy Vault’s 10-year offtake agreement with Gridmatic is expected to commence in Q2 2025.
The offtake agreement is the first physically settled revenue floor contract to be signed for a BESS in ERCOT.
The agreement is backed by Gridmatic’s previously announced Energy Storage Fund, and will provide both Energy Vault and Gridmatic with the benefit of Gridmatic’s AI-based forecasts, which have delivered the top Day Ahead energy trading results in the ERCOT market, Energy Vault said. As part of the agreement, Gridmatic will also provide qualified scheduling entity services.
The BESS system will be built with Energy Vault’s proprietary X-Vault integration platform using Energy Vault’s proprietary UL9540 certified B-VAULT™ product, and VaultOS Energy Management System to control, manage and optimize the BESS operations.
