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Energy Vault (NRGV) Snaps Up a 175MW Texas Project, Is It a Buy?

Energy Vault Holdings, Inc. (NYSE:NRGV) is one of the best energy storage stocks to buy according to hedge funds. On March 24, Energy Vault Holdings, Inc. (NYSE:NRGV) acquired the McMurtre Battery Energy Storage System from Belltown Power. The McMurtre BESS is a 175 megawatt (MW) or 350 megawatt-hour (MWh) project near Dallas, Texas.

The project sits within the ERCOT North market, one of the fastest-growing power demand zones in the US, Energy Vault detailed in the release. It added that the project already has an executed small generator interconnection agreement and full site control, which significantly de-risks the path to construction.

The company said it will deploy its latest B-VAULT AC Technology Platform 3 at the site. This is Energy Vault’s most advanced system to date that is engineered for rapid deployment and high availability in ERCOT grid conditions. The company anticipates the project’s commercial operations to commence by December 2027, and that the Notice to Proceed should be ready in Q4 2026. Once the project reaches Ready-to-Build status, Energy Vault will contribute it to its Asset Vault investment platform, which is a fully consolidated subsidiary dedicated to owning and operating storage assets globally.

Over the project’s lifetime, Energy Vault projects it to generate $350-$375 million and above in total revenues, or roughly $15-$20 million annually. The company is currently evaluating investment-grade offtake structures to secure bankable, front-loaded revenue.

Energy Vault Holdings, Inc. (NYSE:NRGV) is an energy storage technology company. It specializes in gravity-based and hybrid energy storage solutions designed to support grid-scale applications.

While we acknowledge the risk and potential of NRGV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NRGV and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 0.28% Percent of George Soros’ Stock Portfolio Is in These 10 Small-Cap Stocks and 7 Must-Buy Non-Tech Stocks to Invest in Now

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