Global Battery Storage Boom Is A Boon for Tesla
Rosneft Proposes Oil Firms to Refine 30% of Crude in Russia to Ease Fuel Crunch What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Global battery storage installations are booming, and so is Tesla’s utility-scale battery business.
Tesla has justsigneda multi-year supply and execution agreement with clean energy infrastructure provider NatPower for more than 25 gigawatt-hours (GWh) of battery energy storage systems (BESS) in Europe, as the continent is accelerating battery deployment to make the most of its domestic renewable energy resources.
Europe’s battery storage and renewables-plus-storage installations are booming and set to further accelerate in the coming years as many European markets look to protect themselves from volatile fossil fuel prices and geopolitically-triggered energy crises.
In fact, battery storage systems are booming not only in Europe but in all parts of the world, including the United States.
As part of the deal with NatPower, Tesla will provide its battery energy storage system Megapack, as well as EPC and bankable trading services, with long-term revenue warranties, the energy infrastructure developer said this week.
Projects under the agreement will be sited in Italy and the United Kingdom and will be owned and operated by NatPower.
The five initial projects in Italy and in the UK will be 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 $4-5 billion, and expected project revenues exceeding $15 billion over 20 years, NatPower said.
“The sector has access to technology and capital but still struggles to deliver infrastructure consistently and within the required timelines,” commented Fabrizio Zago, CEO of NatPower.
“What we have built with Tesla is an ecosystem that enables alignment between capital and execution, and that can be replicated across multiple markets.”Related: UK Climate Panel Urges Faster Electrification to Lower Energy Bills The over 25 GWh storage capacity covered by the agreement will provide grid stabilization, renewable generation optimization, and dispatchable capacity for high-demand end users, including data centers and energy-intensive industrial operations, NatPower says.
NatPower has “a strong vision for scaling battery deployments quickly and efficiently across Europe,” said Mike Snyder, VP Tesla Energy & Charging.
The scaling of battery deployment everywhere in the world would benefit utility-scale battery manufacturers such as Tesla.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment