Tesla Megapack To Help Power Western Australia's Transition From Coal To Clean Energy
Portfolio Pulse from Anan Ashraf
Tesla (TSLA) has been notified by French renewable company Neoen SA (NOSPF) to start making megapack units for a 197 MW storage capacity project in Western Australia. The project, expected to be operational in Q4 2024, aims to transition the region from coal to clean energy.
June 20, 2023 | 7:39 am
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Neoen SA has won a services contract from the Australia Energy Market Operator to provide 197 MW of storage capacity for 4 hours, partnering with Tesla for the production of megapack units.
The contract win and partnership with Tesla will boost Neoen's revenues and strengthen its position in the renewable energy market. The project also showcases Neoen's capabilities in providing large-scale energy storage solutions and expands its presence in Australia.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Tesla will produce megapack units for Neoen's 197 MW storage capacity project in Western Australia, supporting the region's transition from coal to clean energy.
Tesla's involvement in the project will increase its energy and storage business revenues, which have already grown significantly from $616 million to $1,529 million in the past year. The project also strengthens Tesla's position in the renewable energy market and expands its presence in Australia.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100