Tesla and NatPower strike deal for 25 GWh of battery storage in Europe

The first phase of the multiyear agreement covers five projects in Italy and the UK, with total construction costs estimated at $4 billion to $5 billion

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Tesla $TSLA and NatPower signed a multiyear agreement to deploy more than 25 gigawatt hours of battery energy storage capacity across Italy and the U.K., the companies said Tuesday.

Altogether, the initiative is structured around five initial projects, with a long-term ambition to surpass 100 GWh of installed capacity, according to Reuters. The companies put total construction expenditure at between $4 billion and $5 billion and said the portfolio could generate revenues of........

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