Tesla Signs 100MW Megapack Contract Worth $100M With New Zealand's Contact Energy
Portfolio Pulse from Anan Ashraf
Tesla has signed a $100 million contract with New Zealand's Contact Energy to build a 100MW battery storage system in Auckland. The project will store excess renewable electricity and is expected to be operational by March 2026. This deal highlights Tesla's growing energy segment, which saw a 54% revenue increase in 2023.
July 01, 2024 | 7:30 am
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Tesla has secured a $100 million contract with New Zealand's Contact Energy to build a 100MW battery storage system in Auckland. This project is expected to be operational by March 2026 and will support Tesla's growing energy segment, which saw a 54% revenue increase in 2023.
The contract with Contact Energy is a significant addition to Tesla's energy segment, which has been growing rapidly. The project will enhance Tesla's revenue and market position in the energy storage sector, likely leading to a positive short-term impact on its stock price.
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