en.Wedoany.com Reported - Independent energy company NatPower has announced a cooperation agreement with Tesla to build 25 gigawatt-hours of battery storage facilities in Italy and the UK. This is the first phase of a project with a total planned capacity exceeding 100 gigawatt-hours, with construction costs estimated at $4 billion to $5 billion.

European countries are accelerating battery storage projects to balance the grid integration of intermittent renewable energy generation. Under this multi-year agreement, NatPower will use Tesla's Megapack battery energy storage system and adopt Tesla's trading technology to manage the timing of electricity buying and selling. The two companies stated that the first batch of five projects will be built, with potential revenue exceeding $15 billion over 20 years.

NatPower CEO Fabrizio Zago said the industry has the technology and capital but has struggled to consistently deliver infrastructure on time. The ecosystem built together with Tesla can coordinate capital and execution and can be replicated in multiple markets.

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