The partnership targets 100 GWh of storage capacity to support grid stability and renewable energy integration across Italy and the UK.
Tesla and NatPower signed a multi-year agreement to deploy over 25 GWh of battery energy storage systems in Italy and the UK. The initial phase includes five projects, with Tesla supplying Megapack systems and services, including revenue warranties and energy trading via its Autobidder platform.
The full initiative aims for 100 GWh of storage capacity, with construction costs estimated at $4 billion to $5 billion and projected revenue exceeding $15 billion over 20 years. The projects will enhance grid stability and provide dispatchable power for industrial users and data centers.
Tesla shares fell 4% to $388 amid a broader tech sector downturn following the announcement.