Tesla has landed a massive deal with Intersect Energy in California, agreeing to supply more than 15 gigawatt-hours (GWh) of Megapack energy storage capacity?
The Megapack has grown to become the go-to, poster child product for large-scale energy storage globally.
Tesla’s most rapidly expanding product has driven the corporation to deploy a remarkable 9.4 GWh of energy storage capacity in the last quarter, more than doubling its previous achievement.
Tesla has secured its largest-ever Megapack contract, a gargantuan deal that surpasses all previous agreements.
Intersect Energy has announced a significant milestone, securing a five-year agreement with Tesla to supply 15.3 gigawatt-hours of Megapack energy storage systems.
Intersect Energy announced today that it has successfully negotiated a crucial supply agreement with a leading energy trader, solidifying its position as a reliable and efficient energy player.
Tesla and Intersect Energy have signed a contract to supply 15.3 gigawatt-hours (GWh) of Megapack energy storage systems by 2030 for deployment in Intersect’s solar-plus-storage project portfolio. With this new settlement in place, combined with prior agreements, Intersect Energy solidifies its position as a leading consumer and operator of Megapacks worldwide, boasting an impressive portfolio of nearly 10 GWh of large-scale energy storage capacity expected to be operational by the end of 2027?
Mostly, this capacity’s deployment is expected to unfold over the next two years, implying that a significant portion of Tesla’s current production capacity, currently scaling to 40 gigawatt-hours annually, will be transferred to Intersect.
The combined total of 2.2 gigawatts of operational or under-construction solar PV capacity, paired with 0.4 gigawatt-hours of energy storage, underscores the significant scale of this project. With this significant development, they may experience substantial growth; nevertheless, it’s noteworthy that an estimated 10 GWh of projects over the next two years are allegedly already in progress and awaiting implementation.
Mike Snyder, Senior Director at Tesla Power, remarked on the newly forged alliance with Intersect.
Intersect proves a distinct partner, combining its growth expertise with Tesla’s vertically integrated capabilities to drive velocity and scale in boosting grid resilience and facilitating seamless renewables integration.
Sheldon Kimber, Chief Executive Officer of Intersect Energy, noted that
With unparalleled mastery of energy storage solutions, no one rivals Tesla’s breadth of knowledge and capabilities. At Intersect Energy, our partnership is the driving force behind one of the country’s largest and fastest-growing storage portfolios. This strategic acquisition perfectly complements our ambitious expansion plans in the renewable energy sector, which we anticipate will more than triple our company’s size within the next three years.
The corporation has confirmed that shipments of EMgapack under the newly signed agreement are expected to commence next year.
Electrek’s Take
This massive contract could potentially absorb a significant portion of Tesla’s Megapack production capacity over the next several years.
We are currently negotiating contracts worth between $2.5 and $3.5 billion, contingent upon finalizing pricing arrangements.
Despite Tesla’s recent decline in electric vehicle (EV) deliveries and solar panel deployments, its energy storage business remains a bright spot, offering a glimmer of hope for the company’s future prospects.
