Tesla, NatPower strike $5B deal for 25 GWh of Megapack storage (opens in new tab)

Tesla and independent energy firm NatPower have reached a deal to build 25 gigawatt-hours of battery storage in Italy and Britain, the first phase of a program worth up to $5 billion. Under the multiyear agreement, NatPower will deploy Tesla’s Megapack systems and use Tesla’s trading software to decide when to buy and sell electricity — extending Tesla’s reach deeper into Europe’s fast-growing grid storage market.