Energy Vault rises on Texas battery storage project acquisition

Shares of energy storage solutions company Energy Vault Holdings NRGV.N rise 3.8% to $3.56

Co acquires the McMurtre Battery Energy Storage System (BESS), a 175 MW (Megawatt)/350 MWh(Megawatt-hour) grid-scale project in Texas

Co says the project, acquired from Belltown Power, strengthens its growing U.S. energy storage portfolio and advances its plan to deploy an initial 1,500 MW of BESS capacity

NRGV adds that project expected to deliver $15–$20 million in annual revenues over its technical life, representing $350–$375 million+ in total expected lifetime revenues

Co says commercial operations are targeted for December 2027

Including session's move, NRGV down 21.8% YTD