Tesla Signs 100MW Megapack Contract Worth $100M With New Zealand's Contact Energy

Quick Summary:

New Zealand energy retailer and generator Contact Energy said on Monday that it contracted EV giant Tesla Inc (NASDAQ:TSLA) to build a grid-scale 100-megawatt battery in Auckland for NZ$163 million($99.4 million.)

What Happened: The new battery storage system in Glenbrook will store excess renewable electricity when demand is low and will provide enough electricity to power 44,000 homes for more than two hours during winter when demand is high, Contact Energy said.

While the New Zealand company will manage the overall project, Tesla will be responsible for the supply and commissioning of the battery in addition to long-term maintenance.

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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets: United StatesNew Zealand

Topics: Contact energy Elon Musk EVs Tech Mobility Electric vehicles TSLA Benzinga News US88160R1014

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-01 @ 07:30:30 (2 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 484 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 21438375

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