Tesla landed a 15.3 GW contract with Intersect Power to provide battery banks to backup renewables. This is the largest such contract ever written. That is 15 GW of on-demand dispatchable power, the equivalent of 15 nuclear power plants. https://electrek.co/2024/07/18/tesla-secures-absurdly-large-multi-billion-megapack-contract/ Tesla secures absurdly large multi-billion Megapack contract The Megapack has become the go-to, posterchild product for large-scale energy storage around the globe. It’s by far Tesla’s fastest-growing product and enabled the company to deploy a record of 9.4 GWh of energy storage last quarter – more than twice the last record. ,,, Sheldon Kimber, CEO of Intersect Power, added: No one in the market can match Tesla’s depth of experience in storage technology. This partnership is the foundation of one of the largest and fastest growing storage portfolios in the country here at Intersect Power. This storage franchise is the perfect complement to our multi-billion dollar expansion of renewable generation that is expected to more than triple the size of our company over the next three years.
is Tesla outsourcing the green jobs? that did not take long... https://electrek.co/2024/07/18/tesla-secures-absurdly-large-multi-billion-megapack-contract/ "Yes it'll take much of the Lathrop factory, but another 40Gwh will come from the Shanghai factory by as early as the end of next year. They'll also be announcing "other plants."
They’ll need all their capacity to meet the order timeline. And as you mentioned, reportedly they have signed a joint venture manufacturing plant in the US, partnering with CATL, the largest battery manufacturer in the world.
Yes, their stock is down. I wish I had kept mine. I tripled profit and sold. Had I waited I could have made 10x.
Putting this into a financial perspective, it's a huge deal. One Tesla MegaPack stores 3.9 MWatts of energy. The total power for this project will require about 4000 MegaPacks. Tesla has to sell about 1000 EVs to make the equivalent profit of a MegaPack. So financially this is the equivalent of selling 4 million EVs. Worldwide, Tesla sold 1.8 million EVs in 2023.