NatPower, Tesla sign agreement for over 25 GWh of BESS in Europe
Projects under the agreement will be sited in Italy and the UK and will be owned and operated by NatPower. Tesla will provide Megapack, their BESS as well as EPC and bankable trading services, with long-term revenues warranties.
NatPower and Tesla have entered into a multi-year supply and execution agreement covering more than 25 GWh of battery energy storage systems (BESS) across European markets.
Projects under the agreement will be sited in Italy and the United Kingdom and will be owned and operated by NatPower, which is headquartered in Milan, Italy. Tesla will provide Megapack, their battery energy storage system, as well as EPC and bankable trading services, with long-term revenues warranties, through Tesla’s Autobidder platform, according to a press release.
The agreement goes beyond the supply of technology alone: it establishes an integrated structure combining electrical infrastructure, industrial capacity and advanced energy trading models, which provide the flexibility and certainty required to finance and deliver projects of NatPower’s scale.
The agreement encompasses five initial projects, in Italy and in the United Kingdom, constituting the first delivery phase of a program with a total capacity target exceeding 100 GWh. Aggregate construction value across the full scope is estimated at USD 4-5 billion and expected projects revenues exceeding USD 15 billion over 20 years, the press release said.
“Today, with this strategic agreement, we are launching the delivery of the first five major projects developed over recent years in Italy and the United Kingdom,” said Fabrizio Zago, CEO of NatPower. “This is a historic moment for our companies, not only because of the scale of the agreement, but also because of the impact it will have on the energy infrastructures.”
“Tesla is excited to partner with NatPower on this long-term agreement. They have a strong vision for scaling battery deployments quickly and efficiently across Europe,” said Mike Snyder, VP Tesla Energy & Charging. “Our team of experts are helping accelerate these deployments through our vertically integrated offering, providing hardware, software, construction, trading optimization and service to bring projects online faster and ensure they operate smoothly throughout the lifetime of the product.”
