WASHINGTON (dpa-AFX) - Tesla Inc. (TSLA) and energy infrastructure developer NatPower have signed a multi-year agreement covering more than 25 GWh of battery energy storage systems (BESS) across Europe.
The projects, located in Italy and the United Kingdom, will be owned and operated by NatPower. Tesla will supply its Megapack battery storage systems and provide engineering, procurement and construction (EPC) services, along with energy trading optimization through its Autobidder platform.
The agreement initially covers five projects and forms part of a broader program targeting more than 100 GWh of storage capacity. Total construction value across the full program is estimated at $4 billion to $5 billion, with projected revenue exceeding $15 billion over 20 years.
The companies said the storage assets will help stabilize power grids, improve renewable energy integration and support growing electricity demand from data centers and industrial users.
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