Nasdaq and Tesla ink $5B battery deal
NAT Power and Tesla announced an agreement to build 25 gigawatt-hours of battery storage systems in Italy and the UK. This is the first phase of a project valued at up to $5 billion, aiming to surpass 100 gigawatt-hours of storage capacity. The companies will use Tesla’s MegaPack system and electricity trading technology, with projected revenues exceeding $15 billion over 20 years. Meanwhile, the battery industry faces challenges in implementing infrastructure according to schedule.
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