Tesla, NatPower Sign Multiyear Battery Energy Storage Systems Deal in Europe

MT Newswires Live18:22

Tesla (TSLA) and NatPower signed a multiyear supply and execution deal for more than 25 gigawatt-hours of battery energy storage systems in Italy and the UK, the energy firm said Tuesday.

Tesla will provide its Megapack battery energy storage system, along with other related services, while NatPower will own and operate the project sites, the company said.

NatPower said five initial projects are planned, with total construction costs estimated at $4 billion to $5 billion and revenue projected to exceed $15 billion over 20 years.

The agreement also covers manufacturing capacity, grid connection, permitting process, financial structure, and timeline management, the company added.

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