Tesla has officially signed a ¥4 billion (C$764/US$557 million) deal to build its first grid-scale battery energy storage station in China, leveraging its Megapack technology.
Their growing use helps stabilize power grids, prevent outages, and reduce reliance on fossil fuels. This project is Tesla’s first large-scale energy storage installation in China, complementing its existing automotive manufacturing presence in the city through Giga Shanghai.
"The grid-side energy storage power station is a ''smart regulator'' for urban electricity, which can flexibly adjust grid resources," Tesla said on Weibo, according to a Google translation. This would "effectively solve the pressure of urban power supply and ensure the safe, stable and efficient electricity demand of the city," it added.
Capacity for global battery energy storage systems rose 42 gigawatts in 2023, nearly doubling the total increase in capacity observed in the previous year, according to the International Energy Agency. — CNBC''s Arjun Kharpal contributed reporting.
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The optimization objective is to maximize net profit, considering three economic indicators: revenue from selling electricity generated by the wind-solar energy storage station, …
"The grid-side energy storage power station is a ''smart regulator'' for urban electricity, which can flexibly adjust grid resources," Tesla said on Weibo, according to a …
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The agreement was finalized on Friday and involves a total investment of 4 billion yuan (approximately 556 million U.S. dollars). The energy storage station will be located in the …
Tesla''s Shanghai Megafactory, which broke ground on May 23, is expected to be completed by the end of the year. [Photo/Shanghai Observer] Construction on Tesla''s …
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US carmaker Tesla on Friday inked a deal with Chinese partners to build a grid-side energy storage station in Shanghai using its Megapack energy-storage batteries.
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