Tesla secures an absolutely massive multi billion dollar Megapack order

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By Matthew Griffin Earth and Energy 25th October 2024

WHY THIS MATTERS IN BRIEF

As renewable energy is rolled out globally it still needs massive amounts of Grid Scale Storage, and this is Tesla’s largest battery storage by far globally.

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Tesla has secured an absurdly large contract to provide over 15 GWh of Megapack to California’s Intersect Power. The Megapack has become the go-to, poster child product for large-scale energy storage around the globe.

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It’s by far Tesla’s fastest-growing product and enabled the company to deploy a record of 9.4 GWh of energy storage last quarter – more than twice the last record.

Now, Tesla has secured its biggest Megapack contract to date and it is absurdly large. Today, Intersect Power announced that it secured a contract for Tesla to provide them 15.3 GWh of Megapacks through the next 5 years.

Intersect Power wrote in a press release: “Tesla and Intersect Power today announced a contract for 15.3 GWh of Megapacks, Tesla’s battery energy storage system, for Intersect Power’s solar + storage project portfolio through 2030. This agreement, when combined with previous commitments, make Intersect Power one of the largest buyers and operators of Megapacks globally with nearly 10 GWh of large-scale energy storage expected to be deployed by the end of 2027.”

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As mentioned above, most of that capacity is expected to be deployed within the next 2 years, which means a significant part of Tesla’s capacity, which is currently ramping to 40 GWh per year, is going to go to Intersect.

Intersect currently only “2.2 GW of operating solar PV and 2.4 GWh of grid scale storage in operation or construction.” So this is a big step up for them, but the 10 GWh of projects planned for the next 2 years are reportedly already in the pipeline.

Mike Snyder, Senior Director of Tesla Energy, commented on the new partnership with Intersect: “Intersect continues to be an exceptional partner, and their development expertise combined with the plug-and-play nature of Tesla’s vertically integrated technology enables the speed and scale needed to enhance grid resilience and support greater renewables integration.”

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Sheldon Kimber, CEO of Intersect Power, added: “No one in the market can match Tesla’s depth of experience in storage technology. This partnership is the foundation of one of the largest and fastest growing storage portfolios in the country here at Intersect Power. This storage franchise is the perfect complement to our multi-billion dollar expansion of renewable generation that is expected to more than triple the size of our company over the next three years.”

Matthew Griffin / About Author

Described by NASA as a "Walking Encyclopaedia of the Future" and one of the world’s most in demand keynote speakers Matthew Griffin, Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm, is a multi-award winning Futurist and strategic foresight expert, author, lecturer, mentor, podcast and YouTube host.

With a distinguished career running global business units at Atos, EMC, and IBM today Matthew helps leaders and titans of industry from all over the world explore the impact of the inter sections of technology, culture, and leadership, then helps them create high performance organisations that can continuously disrupt, outpace, and outthink their competition.

15 times author of the hit series the Codex of the Future series Matthew's ability to identify, track, and explain the impacts of hundreds of emerging technologies and trends on global business, culture, and society has earned him a powerful reputation and a roster of clients that include royal households, world leaders across the G7, G20, and G77, and many of the world's most recognised and exceptional organisations including ABB, Accenture, ABN Amro, Adidas, AON, ARM, BCG, Centrica, Citi Group, Coca Cola, Deloitte, Dentons, Disney, Dow, EY, Google, KPMG, Lego, Microsoft, Legal & General, LinkedIn, Nokia, Paramount, PepsiCo, PWC, Qualcomm, RWE, Samsung, T-Mobile, UBS, Visa, WIRED, WPP and hundreds of others.

Matthew is regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, and his mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.